Posted by Shawn on May 03, 2008 at 06:46:15:
I'm looking for opinions on a deal gone bad and who should pay who.
A former partner and I were going to buy and sell a home with a 15 year note to new buyer. My partner was to front the money for the home.
1. Seller was ready sell the home and signed a contract us.
2. Buyer wanted to buy the home and gave deposit. Partner and I split the deposit 50/50.
3. Partner bailed. Did not purchase home.
4. Fast forward 6 months, (today)
5. Seller has since sold the home.
6. Buyer wants deposit money back.
My question:
Do I owe my half of the deposit back to the buyer?
OR
Should former partner pay all of deposit back to buyer in full?
After all, former partner broke deal with me, buyer and seller.
- Re: Who owes Who money? Shawn 12:29:32 05/03/08 (0)
- First, what does your partnership Rich-CA 11:18:35 05/03/08 (0)