Sunday, 1 February 2015

my mother and step dad sold a business in Michigan on land contract. The land contract was to end 5 years ago with a balloon payment, but my...

Question

my mother and step dad sold a business in Michigan on land contract. The land contract was to end 5 years ago with a balloon payment, but my parents just allowed the new owner to continue payments with out a new document drawn up. Now my mother passed 3 years ago and my step dad just passed 3 months ago. Is the land contract still valid and if so would my siblings and I inherit half of the land contract or is my step sister owner of it all?



Answer

Was there a will? There are more questions to properly evaluate this issue. Call me to discuss. Tim Klisz



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