- 14 - from her father-in-law and $3,500 from insurance proceeds and an inheritance received by her.6 John Richards paid $9,000 towards the purchase price. He was a builder, and the plan was to build on the property. John Richards was supposed to get his money returned “at whatever the profit was”. Notwithstanding that there are no documents evidencing Mr. Richard’s participation in the purchase of the property, she believed that she was obligated to repay him, and she has asked him to hold off collecting until she straightens things out. She received the first quitclaim deed while Steven was in jail: “Steve was in jail at that time and I went to get it. It was going to be a hard mess all around. I was just glad to receive it.” Notwithstanding the sale contract, she was worried that she would lose the money she had invested in the property since there had been no closing of the sale. Steven obtained the first warranty deed in order to deprive her of her interest in the property. 6 We are aware that the total of those two amounts is $5,500, which exceeds a stipulation that $5,000 was deposited in escrow pursuant to the sale contract. We cannot explain that discrepancy or the discrepancy between the stipulation that an additional $9,000 was paid to Sandra L. Archer by a cashier’s check purchased by John K. Richards and the copy of an $8,000 check attached to the letter dated Nov. 15, 1995, from Mr. Richard’s attorney to Steven. We will assume that the deposit made by petitioner was $5,000 and the amount paid by John Richards was $9,000, which adds up to the $14,000 purchase price for the Pelican Avenue property specified in the contract of sale.Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011