So long as the buyer under the Land Contract continues to make payments and lives up to the terms of the existing contract, that contract cannot be ignored or invalidated.If a property under Land Contract is sold to a new owner, the rights of the purchasing party designated in the Land Contract still remain in force — just with a new deed holder who must live up to the Land Contract’s terms.
If the Land Contract was registered with the county recorder’s office at the time of signature, the existence of the land contract will appear during a title search done by any new prospective owner. The existence of such a contract tied to the Deed may alter a buyer’s decision; unless the buyer wants to take over a Land Contract, it could stop a sale. (Given this, a party in a Land Contract who wants to protect his or her interest may wish to contact the county recorder about the topic of Land Contracts, to ensure the contract was registered for the property and/or to determine the steps necessary to acknowledge the contract for the deed.)
If a person is unsure of the best steps to take to enforce a legal position in a Land Contract, we suggest that person discuss his or her concerns with an attorney. To find a local attorney for FREE, visit Standard Legal’s Attorney Find page.
To easily create a valid Land Contract document for less than $18, see Standard Legal’s Land Contract legal forms software page.