Contract Silent on Early Payoff • Rebuttal of Presumed Right to Prepay • Installment Land Contract
Mley v. Leonhardt, PICS Case No. 17-0086 (C.P. Lawrence Dec. 1, 2016) Hodge, J. (7 pages).
An installment land contract was set up for monthly payments for the duration only, with no word on prepayment. The land owner was adamant about the monthly payments and had legal papers drawn up stating his position before his death which served to rebut the presumption of right of prepayment. After his death, the disagreement continued between his heir and the buyers, who paid the remaining installments into escrow. The court ordered the distribution of the escrowed funds and the deed preparation.
