Q: If I am purchasing a home with contract for purchase and I have not gotten private financing, can I lose house in TN
I was supposed to get private financing for Contract for Purchase in TN years ago and now the original owner has died and her daughter gave me a 30 day notice. Can I lose my house?
A: Yes. A Contract For Deed is only a Lease with an Option to Purchase. Unless you have a Deed, you do not own anything. You may wish to immediately obtain financing for the amount owed and demand your Deed. If the owner does not convey the property to you, you can sue for Breach of Contract and possibly Specific Performance. If she files a Detainer, and you have been there over three years, a good lawyer might cause her trouble in Court.
Bruce Alexander Minnick agrees with this answer
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