If alease to own buyer has defaulted on his payments with a worthless check, what recourse do I have?

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If alease to own buyer has defaulted on his payments with a worthless check, what recourse do I have?

Asked on November 10, 2011 under Real Estate Law, Alabama

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If the payment to you by the lease to own buyer was for rent, I would write him a letter demanding that the payment be made good in a certain period of time, keeping a copy for future need.

If the time comes and goes without the payment being made good, I would either serve the tenant/buyer with a notice of eviction for breach of the agreement to pay or a three day notice to pay or quit if you want the person to actually live in the unit down the road.

If the check was for actual payment for the purchase of the property, I would make a demand to cure in writing and if not done so, consider a breach having happened and consider a notice of default on the presumed loan and mortgage. I suggest that you consult with a real estate attorney about your situation. Good luck.


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