Land contract: balloon payment date passed, but 20% of purchase price paid so contract can't be cancelled, which trumps which?
Language in daughter's land contract says she would be in default if balloon pay date missed and that contract can be cancelled and daughter evicted...but language in another section says if in default in any way then contract can be cancelled UNLESS 20% of purchase price has been paid (which it has).
So what does that mean? Contract cannot be cancelled even though in default because of missed balloon pay date? Contract stays in force and must be re negotiated? Something else?
Thanks,
Kevin