Have I committed a crime and how should I handle this?
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Have I committed a crime and how should I handle this?
I purchased a house from a “friend” who had power of attorney on the house. He wanted to get the equity out of the house and agreed to buy the house back within a year. Three years have gone by and he has not bought the house back and he has started to be late continuously. We do not have a lease agreement and I have sent notice to vacate and I will pursue an eviction due to his continuous late payments and the fact that he has not purchased the house back yet. How should I do from this point?
Asked on June 18, 2009 under Real Estate Law, Texas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
It seems as though you are doing all of the right things here. Once your "friend" is evicted you can either re-let the house, sell it, or move in yourself. If you have any questions, you should consult an attorney in your area. Absent any undisclosed facts, I don't see that you did anything wrong here however.
In the future remember, its best not to do business with friends.
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