Mary is a resident of Florida and inherited 20 acres of land in california.She decided to sell the property to Franklin Contractors in the amount of (500,000.00). Franklin Contractors, Inc.,wants to provide a down payment of 100,000.00 and pay the remainder of the purchase priceover a ten year period. Howard Franklin plans to subdivide the property and construct houses on it. How would I write a legal memorandum addresing the terms,transfer, third party transfers,legal principles? Please help|||dont transfer any type title til the full price has been paid..then go to the land office and get several transfers and use them as a template....|||Pay a lawyer!
Real estate law in CA is 100% unforgiving as to the precise language of a written contract for the sale of real estate. If you make a mistake you could end up transfering the title, but not being able to get the money.
Or, there could be a problem with the title when the contractor tries to subdivide, and you could end up on the hook for their legal bills.
Real Estate law is NOT a DIY project!
Richard
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