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what ACTION CAN I TAKE TO COLLECT A LOAN TO PURCHASE A HOUSE WITH SOME ELSE BOTH OF OUR NAME IS THE PROPERTY.

FloridaCollections

I WAS FLIPPING PROPERTY WITH SOMEONE BUYING HOUSES AS IS FIXEM UP AND SELL THEM FOR A PROFIT THAN I GET PAID, USUALLY, BUT NOT THIS TIME. I AM NOT A CONTRACTOR, SO I AM THE LENDER THIS TIME HE REFUSED TO SELL THE HOUSE AND WAS UNABLE TO PAY ME,I HAVE A SIGNED PROSSARYNOTE FOR THE LOAN AND MY NAME IS ALSO ON THE PROPERTY THE NEXT PROBLEM IS THE PROPERTY IS IN LEHIGH ACRES LEE COUNTY FLORIDA 33971

1 reply

Apr 30, 2020

If someone has failed to pay you according to your contract, then a breach of contract claim will generally be available to help recover what's owed. Or, even if there wasn't a contract, then a claim like unjust enrichment could be on the table. What's more, filing suit to enforce a promissory note might be yet another option. But, consulting with a Florida construction, real estate, or business attorney would help to clear up what recovery options will be on the table in your specific situation. They'll be able to review all of the relevant documentation and advise on how to move forward and get paid. Before taking to the courts, though - sending a payment demand letter that threatens legal action could be useful. A good demand letter will generally contain specific legal threats and put a deadline by when payment must be made. More on that here: Construction Demand Letters – How To Write One That Gets You Paid.

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