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Handwritten receipt template for Purchasing

Speaker 1: So, okay. Let's move   into the third question for the evening. And  this is from simple math in Sumpter township   and simple math asks is a handwritten  receipt, legally binding on the sale of   a house. A friend of mine sold me her house  for very little money, and now a year later,   she wants to take it back. But I have a  signed receipt from her and her. Ex-Husband   from simple math and Sumpter touch it. Speaker 2:   Well, I love the alliteration on that one. What  really, what they're alluding to my clerks who are   first and second year law students,  even they know the only good receipt   for the purchase of a property is going to  be a deed. Right? Okay. Pretty much. I mean,   we're a land contract, which will be a memorandum  of land contract, but that's the best receipt   is a deed. You should say deed at the top of the  receipt and anything less is, is not very good. So   a deed unto itself, believe it or not internally,  the law looks at the deed as a contract. The   there's an offer and there's really not an  acceptance, but the delivery of that deed   and the acceptance of that deed becomes an offer  and acceptance. But the grand tour of the deed is   showing their intent as to what the contract  should be, which is a price of a property,   the legal description of the property. Speaker 2:   Okay. And who they're giving the property  to that's the best receipt number one,   but it is a contract unto itself. It shows the  grantor's intent. Now does it show the parties   and 10, believe it or not, people can refuse the  delivery of a deed just because somebody writes   a deed. I mean, if I have a terrible piece of  property, I want to get rid of it. I don't want to   deal with it. I could say, oh, here you go, Blair.  And now, you know, you might go, oh my goodness.   He just got rid of the worst, like Roach motel.  And he put in my name now I'm in trouble. Well,   that doesn't happen because you have to accept  the deed. That's the other part of the contract,   the acceptance. Right. Speaker 1:   So I can't just throw a Dita at you  and run away. It's a year from now   Speaker 2: Run. Okay. But people think that,   you know, you can do that, right. Speaker 1:   He's in Seinfeld, right? He's at the homeless Speaker 2:   Seinfeld references, not everybody  gets Seinfeld and, and   Speaker 1: David and I are signed   books, but getting Speaker 2:   Back to you or like, you know, your  Roach motel that I've tried to get   rid of the whole idea about having let's  pretend for a minute that these people   had an agreement though, where the Salar a year  ago said, Hey, I'm giving you the property. Yes,   it's a lower value. But you know, if you do  all these repairs, it's your house. You know,   I don't want it here, here. I'm putting in writing  which you can't find the receipt or what have you.   Well, that will be very helpful to go to court  with it. Basically it's an exception to the deed   and it's called what we call partial performance.  It's not what the courts like to see. They're not,   they'd rather see a deed. Okay. But if somebody  like acted in good faith and let's say repairing a   home or paying taxes, I have, I have a case right  now that we're working on right now, where we have   a family in west Bloomfield that we're told, if  you take care of the taxes, if you do this thing   and you take care of some water bills, et  cetera, we're going to DJ at the home.   Speaker 2: So this family was so excited   and they did have like some emails back and forth.  And they did exactly what they were told to do.   And the, the owners, the owners there live  in Arizona, they moved out to Arizona.   So these people did everything they were supposed  to do. Do they have a deed? No, they don't have a   deed, but they have a promise for a deed. And  ing to the promise, they said, we will   give you the home, by the way, they weren't giving  it for free. We're giving it to you for X amount   for you to hear this. And so what did the people  do? They took care of what was requested of them.   They agreed by doing the performance,  it's called partial performance.   So just because you don't always have something in  writing, which is a requirement under what we call   the statute of frauds in Michigan as well, by the  way, the statute of frauds is one of the very old   I'd hate to say legislation. Speaker 2:   It's a kind of legal concept, which basically  says all real estate transactions that lasts   beyond a year that involve real estate need to be  in writing. Why? Because people's memories, fade,   you're dealing with valuable assets. So this  is how we protect people by making sure they   put everything in writing. So what's  one of the exceptions to the statute   that requires everything that we put in writing  partial performance, showing that you're doing   something based on a promise there. If you're  watching this, it's a pain in the to do,   go get yourself an attorney before you have to  do it right. Cause it's a harder road to tow.   When you have to go in front  of a judge and prove to them,   all the things that you did just to satisfy  this unwritten agreement, you know, it,   wasn't reduced to writing. And I have a lot of  those. We have a lot because people are trusting   and it's unfortunate and they should go to  an attorney before not afterwards. Oh, we're   going to that rabbit hole. Sorry. Okay. So that's,  that's pretty much it. Okay. What was the question   is a handwritten receipt legally, but yeah,  unfortunate, but they could, they could enforce   that if, you know, if needed be we'd have to  talk to them a little bit further. Okay.   Speaker 1: I'd be so interested to see that receipt.