Lee v. Bass, 215 S.W.3d 283 (2007)

Citation: Lee v. Bass, 215 S.W.3d 283 (2007)
Parent Document: Lee v. Bass, 215 S.W.3d 283 (2007)
Jurisdiction: Missouri (state)
Effective Date: 2007-02-20
Original Source: https://www.courtlistener.com/opinion/1615659/lee-v-bass/ ↗

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Lee had obtained cashier’s checks on May 12, 1994. He paid the Basses $13,000 two days later on May 14, the day the parties executed the contract. It is undisputed that Lee began residing on the property four days later, and began making payments each month to the Basses. These payments initially were $693.15, but increased at intervals over the next nine years whenever there was an increase in the escrow payment for taxes and insurance premiums. The payments went to $705.22 in April of 1995, then later to $735.78, then to $777.19. Lee’s payments did not decrease if the payments due the mortgagee were decreased, either by a refinancing (as did occur when the Basses refinanced) or by an adjustment of escrow payments. Except for the fact that there was never a downward adjustment of the payment, and except for the fact that Rex Lee reimbursed the Basses for the mortgage company’s late fee if he was late with his payment, Lee’s payments were geared to the amount of the mortgage and escrow. The Basses made their mortgage payments from the payments sent by Rex Lee.

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