Robertsdale, AL asked in Real Estate Law for Alabama

Q: I have a contract for deed for house in State of Alabama. The deed holder wants to convert to a vendors lien.

I am not sure if they can do this or if it would be good for me to sign for the conversion. Thanks.

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1 Lawyer Answer
Anthony M. Avery
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A: That means you have a Lease With Option To Purchase, and own nothing. A Deed to you with a Vendor's Lien on it means you own it subject to a Lien, which needs to be complied with and released of record upon satisfaction. If you do not pay, Lienor can execute on property. You might want a Deed and give him back a Mortgage and a Note. But you are at his pleasure right now, so be careful.

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