Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-02-14

"a" buys a house from "B" on
land contract for $4,000 and pays
$1,000 down on the contract. The
house is insured for $1,000. A fire
takes place with an ensuing loss Of
$500 which is paid by the insurance
company. How should "a" and "B
settle the matter?
DAILY READER.
A land contract of this kind where
only 81, 900 is the initial payment should
most certainly stipulate that b is the
owner, etc, until such time as "A" has
paid so much, and 3 deed executed, etc,
and that a reasonable amount Of fire in
surance shall at all times he carried on
the property by a. in favor Of "B' (the
owner).
The $500 should be paid by the in
surance company to 81" who Is under
obligations to spend the whole amount in
the repair of the house.
1 conduct meat and grocery store.
Some time ago a customer of mine
had her property for sale. in
uuired about 1t and asked how much
commission she would pay. She
said $50. I spoke to my mother-In-
law about the property and she
brought a buyer for It, The owner
of the property said that my mother
in-law had nothing to do with my
matters and refuses to pay commits
sion. Who would be entitled to the
commission? T. K. w.
A similar question was answered In
our issue of Jan. 27, 1920. Briefly, an
agent must have a written option to sell,
in order to claim and collect a commits
sion. If your customer hasn't the con-
viction of moral obligation, neither you
or your mother-in-laW can collect the
commission.
"A'' asks "B" to help him find a
small farm. "B" goes with "a" for
three days and finally "a buys a
farm. The owner viii not pay a COM
mission as It was not listed. Can
"B' recover from "a"
INTERESTED.
P S.-"A" would not buy until he
got "B's" advice "a" after he
found there was no commission,
brought the owner down $780, and
bought the farm 81, 600 under market
price.
The answer to the question above will
stand In this case also. If, however, "a
succeeded in buying the property shown
him by "B" for the price less the COM
mission he should be man enough to
pay "B" the commission, even though no
contract existed.
why are leases made for ninety
nine years instead Of 100 years or
$50 years? w. L. e.
Leases are made for the term of ninety
nine years merely because it has become
the custom, according to all the old
English laws. Several hundred years ago
in England three men who dealt In real
estate were closing a lease on a prop
erty. One suggested that it be for period
Of nine years, but that not being long
enough another suggested ninety-nine
years. This carried and through the
publicity obtained in the newspapers this
was made a favorite term. Leases can
be made for 100 years or $50 years just
as we'll as for ninety nine years. For
instance, the Interstate Public Service
Company, operating electric cars be-
tween indianapolis and Louisville have q
lease for 100 years on the right of way.
We bought a home through a bank
from the party that owned dt. We
had the papers made from July 1,
1910, which is the day we started
paying on the house. What we would
like to know Is, who is to pay the
taxes that are due for the first half
of 1919? Are we to pay them or the
party that owned the home until
July I, 1919. If. in case the party
that owned the home until July |