Monday, June 15, 2009

Cancellation of a Contract for Deed How does it work

(My Original Blog Post: http://ping.fm/j8vyG)
Full article on Minnesota Contract for Deeds can be found here

Here are some guidelines of what you can expect if you need the services of an attorney to cancel a contract for deed in the state of Minnesota, an attorney can aid you in this process.

The basics of statutory cancellation of a CFD and the timelines involved are:
1.A default (curable or noncurable) in the CFD must have occurred
2.Fill out the statutory notice of cancellation of contract for deed (1-3 days)
3.Personally serve the cancellation notice on the vendee(s) (1-5 days)
4.Vendee has 60 days from date of service to cure the default (60 days)
5.Absent a cure, an eviction complaint is drafted and served (1-3 days)
6.Summary eviction hearing is held (7-14 days after service)
7.Writ of Recovery obtained and served by Sheriff (1-3 days)
8.File the cancellation with the county recorder or registrar

The following are just general guidelines we have provided on costs we believe and are subject to change at any time, you will need to contact an attorney for updated costs:
Cancellations usually take 2 to 5 hours of attorney time to gather the info and draft the documents for the cancellation.
There is a fee for the process server ($50-$100) to serve the docs.
Evictions are about the same time of 2 to 5 hours (for summary proceeding),
Service fee ($50-$100)
Court filing cost of $250.
Writ of Recovery is $40
Sheriff usually charges about $100 to serve it.
Filing cancellation of CFD with the county is $46 fee to county.

Cancellation of a c/d specifically below Info courtesy of:
Jaren L. Johnson
BenePartum Law Group, PA
Benepartum.com
651-994-4300 ext. 19

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