Seller’s Right to Rescind
I have contract for deed with Buyer. Buyer diagrees with payoff amount which is note payoff + taxes and insurnace he was responsible for during tenancy. This is stated clearly in contract that if he doesn’t pay them during teneacyt then they cam be added to payoff at end(now). Buyer went to cloasing and title company holiding warranty deed. IF buyer doesn’t pay the exact payoff i’ve given them: can i decline the lesser $$ mamount the title company is trying to pay me?? not release deed? the title company rushed trough the closing depsite beiong notified that the payoff amount was not correct.

if we are buying homes contract for deed are you presumed owner of the propertie
according to the city ordinance home owners do not have to pay a $200.00 water deposit . although we own 11 homes in this town ,6 of the homes are thru mortgage companies and the other 5 are being bought contract for deed signed before a notary public , the city states that we do not own the cfd properties and says we owe $1000.00 for water deposits. are we presumed owners of these homes?

Farm
My mother wants to transfer 40 acres to myself & my sister. She wants to do this in a manner that the state of Illinois could not come back on the property if she was to be put in a nursing facility. How do we go about doing this? Could she sell us the land on a contract for deed at fair market value and then forgive the contract? and if so would this be considered legal with the state public aid dept. What are your suggestions for this problem?

I have been advised that in Illinois a Memorandom of Contract for deed can be notorized and recorded
in place of the CFD as long as both parties have a signed,dated,notorized copy of the contract in their possesion. If this is so, does it have to include the purchase price of the residential property?
Thank You,
Mike Winzeler