Resolution Trust Corp. v. Sudderth

MEMORANDUM OPINION

GARRETT, Judge:

In May, 1979, Robert J. Sudderth and Joyce E. Sudderth, husband and wife (Sellers), executed a contract for deed to residential real property, with Harold Ridenour and Martha Joan Ridenour, husband and wife (Buyers). The purchase price was $90,000.00. Buyers paid Sellers approximately $30,000.00 and assumed a first mortgage with approximately $60,000.00 balance, as full payment of the purchase price. Cimarron Federal Savings and Loan Association (S & L) was mortgagee. The contract required Buyers to pay $480.00 a month to Sellers, who in turn were required to…