- Jurisdiction
- North Carolina
Have a Promissory Note on a property that stipulates the Buyer must make the payment on time or cure a past due payment within 10 days. No written notice by Seller is required.
The Buyer is required by the Note to direct deposit the payment into a specific checking account by the LLC.
This month the payment was not made into the LLC checking account. It was deposited with the LLC name into a personal checking account.
So forclosure?
Notify to deposit in correct account and just transfer money to correct account?
There was history between the Buyer and I at the end and by "right of first refusal" he was able to purchase this property. I would not be hesitant to foreclose Just curious how to proceed. I think in this case I would need to notify him in some manner that deposits have to be made to LLC. I also think when he went to the bank he asked them to look up my account number otherwise I am not sure how he had it to deposit it in that account.
The Buyer is required by the Note to direct deposit the payment into a specific checking account by the LLC.
This month the payment was not made into the LLC checking account. It was deposited with the LLC name into a personal checking account.
So forclosure?
Notify to deposit in correct account and just transfer money to correct account?
There was history between the Buyer and I at the end and by "right of first refusal" he was able to purchase this property. I would not be hesitant to foreclose Just curious how to proceed. I think in this case I would need to notify him in some manner that deposits have to be made to LLC. I also think when he went to the bank he asked them to look up my account number otherwise I am not sure how he had it to deposit it in that account.