Q: Owner of the house received cash from nephew and decided that my son buy's it back from him. Deed is still in the owner
Your question is unclear. But ALL real estate transactions need to be done in a written agreement. ‘Owner decided’ is never enough. What does the written agreement state?
If you’re unsure, you need to immediately seek local legal representation.
—This answer is offered for information only and does not constitute legal advice or create an attorney/client relationship. Please seek local legal representation if you have further questions.
A: Not sure what you are asking here, but hopefully you have a written purchase agreement that a competent real estate attorney could review to give you the much needed feedback you request. In Michigan, as well as throughout most of the nation, terms of a real estate transaction need to be placed in writing. Verbal agreements, with very few exceptions, are not enforceable. See www.provenresource.com for more information.
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