Sheets v. Sheets

23 N.E.2d 300, 107 Ind. App. 609, 1939 Ind. App. LEXIS 116
Indiana Court of Appeals·Decided November 6, 1939·No. No. 16,137.·Published

Opinion

Laymon, J.

On February 13, 1932, Martin C. Sheets was the owner of certain real estate situated in DeKalb County, Indiana, and on said date he and his wife, Cynthia Sheets (appellee), entered into a written contract with appellees Nina Burnham and Maurice C. Burnham for the sale of this real estate. The contract, omitting the description of the real estate, attesting clause, signatures, and jurat, is as follows :

*610 “This agreement made and entered into the 13th day of February, 1932, by and between Martin C. Sheets and Cynthia Sheets, his wife, first parties; and M. C. Burnham and Nina Burnham, his wife, second parties; witnesses:
“That for and in consideration of the payment as herein provided by the second parties of the sum of $6,000.00, the said Martin C. Sheets has sold and agreed to convey to the second parties the following described real estate in DeKalb County, State of Indiana, to wit:
“ [Real estate.]
“It is agreed that, subject to the terms and conditions herein named, the first parties and the second parties shall ■ continue to reside in the dwelling house on the said described premises, but that except for such use of the said dwelling house, and garage, the parties of the second part shall be given possession of the said described premises upon the execution of this agreement and the payment of the cash first payment on said purchase price as herein provided.
“It is agreed that in the use of said dwelling house the first parties shall have as their private living room the ground floor bedroom and adjoining bath with connecting clothes closed [closet] and the living room which is adjacent to said bedroom and which suite is located on the north and west part of the ground floor of said dwelling and that the second parties are to have as their private living quarters, the east part of the first and second floors of said dwelling, which comprise the first floor living room, hall and clothes closets and the second floor bedroom, clothes closet, bath and stair landing. The remaining second floor bedrooms located on the south and north of the house and the ground floor dining room, butler pantry and kitchen are to be used by the said parties in common. The first parties shall furnish the rooms to be occupied by them and the remainder of the house shall be furnished by the second parties.
“It is agreed that except as they have said separate living quarters as above provided, the *611 said parties shall live as one family, taking their meals together and that the second parties shall pay all of the household and living expenses.
“For boarding the first parties and paying the household expenses, which shall include all fuel, lights, and incidental household expenses, the cost of food and any domestic help that shall be employed, the first parties shall pay the second parties, while they are living together in said dwelling house as aforesaid, the sum of $40.00 per month which shall be paid by the first parties giving to the second parties a credit for the sum of $40.00 upon the balance of the principal of said purchase price.
“The first parties shall have the right and option, at their own election and not otherwise, to live elsewhere than in said dwelling house on said premises,and if,while both first parties areliving, they shall at any time live elsewhere, then the second parties shall pay to the first parties the sum of $40.00 per month during such time as they shall live elsewhere, and which sum of $40.00 per month thus paid shall be credited as a payment upon the principal of the balance of the unpaid purchase price for said premises.
“The second parties shall have the right and option to live elsewhere, and if they shall so elect to do, and if during said time that the second parties are living elsewhere the first parties shall live in the dwelling house on said premises, then during such time as the second parties shall live elsewhere and the first parties shall reside in said dwelling house on said premises, the second party shall pay to the first parties the sum of $30.00 per month to be applied upon the'balánce of the purchase price for said premises, and credit shall be given to said second parties of the additional sum of $10.00 per month as rental for the use of said dwelling house by the first parties and which shall be credited upon the balance of said purchase price of said premises, making a total credit upon said purchase price of $40.00 *612 per month and which shall be credited upon the principal thereof.
“In. the event of the death of either of said first parties the survivor shall have the right to occupy the said living quarters in said premises as herein provided, and may live with the second parties and receive his or her board and said second parties shall pay the household expenses as herein provided, and for furnishing said support to said survivor, and the payment of said household expenses, the parties of the second party shall receive a credit of $25.00 per month upon the principal of the balance of said purchase price remaining unpaid and in addition thereto the second parties shall pay to the said survivor the additional sum of $15.00 per month, to be credited upon the balance of the said principal indebtedness.
“If said Martin C. Sheets shall survive said Cynthia Sheets and shall elect to live elsewhere than in said dwelling house, the second parties shall pay to him the sum of $40.00 per month, which shall be credited upon the balance of the principal sum of said purchase price.
“In the event of the death of both of said first parties the second parties shall continue to make the said payment of principal and interest at the same rate as herein provided for, such payment to be made to the estate of or to the devisees or heirs at law of the said Martin C. Sheets, provided that in that event the second parties shall have the right to pay the entire balance of said purchase price to the heirs or devisees of said Martin C. Sheets at any time they shall elect.
“The unpaid balance of said purchase price shall bear interest at the rate of six (6) per cent per annum, payable quarterly in advance to the said Martin C. Sheets or to his heirs or devisees in the event of his death, and which interest shall be computed and paid upon the principal sum remaining unpaid at the beginning of each quarterly period.
“It is agreed that said purchase price of *613 $6,000.00 shall be paid as follows; Second parties shall pay the sum of $660.00 in cash upon the execution of this agreement and shall assume and hereby agree to pay a mortgage debt against said real estate held by the Auburn State Bank in the sum and amount of $1,000.00 and upon the payment by them of said mortgage debt, or any renewal thereof or any mortgage substituted therefore, the second parties shall.be credited with said sum of $1,000.00 as payment upon said purchase price.

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Sheets v. Sheets, 23 N.E.2d 300, 107 Ind. App. 609, 1939 Ind. App. LEXIS 116 (Ind. Ct. App. 1939).

23 N.E.2d 300 (Sheets v. Sheets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.