Foxy-Lady
Level 3

My client is a nice person.  This is a very close relative who he sold the property to.  The land contract was recorded. They pay my client $550 per month.  There is NO INTEREST.  $300 is to be applied to the sale of the property.  $250 is to be held to ensure the property taxes and insurance is paid this way the County could not sell it for non-payment of taxes. The Land Contract shows the payment to be $300 with no interest.  I hope this clarified it.

0 Cheers