Florence, AL asked in Banking, Contracts and Probate for Alabama

Q: Question about obligations as a seller in a contract for deed

I am the Executor of my fathers estate and he was the seller in a contract for deed. The 5 year contract has come to an end and the buyers bank is requesting me to fill out a Verification of Mortgage. The buyers bank told me without the VOM the underwriter will not give the buyer the loan. I've been advised by counsel that I have no obligation to fill out the VOM, only to follow the contract and receive the payment from seller. The Buyer and The Estate are currently in dispute over the final price of the balloon payment and it may go to litigation. Do I have to fill out the Verification of Mortgage for the buyers bank?

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1 Lawyer Answer
Mr. James Parrish Coleman
Mr. James Parrish Coleman
  • Probate Lawyer
  • Robertsdale, AL

A: You wrote "I've been advised by counsel." You are represented by a lawyer. Listen to her or him.

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