Holding & Decision
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Nature Of The Case
This section contains the nature of the case and procedural background.
Facts
Bean (P) and Walker (D) entered into an installment contract to buy P’s house for $15,000. P, the seller, retained legal title to property and agreed to convey it to D upon payment in full according to contract terms. The contract provided for the purchase price to be paid over 15 years at 5% interest with installments of $118.62 per month. D was entitled to possession, and was obligated to pay taxes, assessments, water, and insurance. The contract had a default provision that if D failed to cure a default within 30 days, P could call the remaining balance due for immediate payment, or terminate the contract and repossess the premises. If P elected to terminate the contract, the monies paid would be considered rent. D defaulted after making payments for eight and one-half years. D had become injured. D had paid over half of the purchase price by that point in time and had made substantial improvements to the property ($12,099.24 in payments and $7,114.75 in principal). P wanted the return of his property and sued in ejectment. The court granted P a summary judgment. D appealed.
Issues
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Legal Analysis
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