What occurs when a buyer of a contract for deed is declared mentally incompetent after signing the contract?

When a buyer of a contract for deed is declared mentally incompetent after signing the contract, it is typically understood that individuals who are legally declared incompetent retain the ability to perform certain actions as long as a guardian is appointed. In this case, the guardian has the legal authority to manage the buyer's affairs, which includes making payments on the contract. This means that the buyer can still fulfill their obligations under the contract through their guardian, thereby allowing continuity in the contract's execution without it being voided or automatically terminated.

This scenario highlights the legal principle that while mental incompetency may impact an individual's ability to enter into contracts, it does not necessarily negate previously agreed upon obligations if a legal representative is appointed to act on their behalf. Thus, payments can continue as required by the contract until further decisions are made regarding its status.

In contrast, other options may imply immediate consequences that don't align with the legal protections afforded to individuals with declared incompetency.