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Land Contract Questions

Answers to Frequently Asked Land Contract Questions

If a Land Contract Buyer Rents the Property to Another, Can the Seller Be Liable for Injury?

April 9, 2014 by Standard Legal

A third party can be named in a lawsuit for just about any reason, as including a party requires no more than adding a name to paper.

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Categories Land Contract Questions

Does a Standard Document Exist to Demand Payment on a Land Contract?

February 6, 2014 by Standard Legal

There is no standardized document to demand that a buyer on a Land Contract make the payments promised. But there is another simple option.

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Categories Land Contract Questions

When Can I Move In and When is the First Payment Due on a Land Contract?

February 6, 2014 by Standard Legal

A Land Contract is just that: a contract. The terms of the contract should be clearly stated within this document, including move-in date and the payment schedule. Read the Land Contract document carefully…

Categories Land Contract Questions

Can a Land Contract Seller Cancel the Contract if the Buyers Divorce?

August 26, 2013 by Standard Legal

Contract terminations (including those in a Contract for Deed, more commonly called a Land Contract) are typically only valid for a breach of a specifically stated term.

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Categories Land Contract Questions

Can I Change My Mind About Real Estate I Just Sold?

August 15, 2013 by Standard Legal

While some states have buyer remorse laws, but there are no ‘seller’s remorse’ statutes.

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Categories For Sale by Owner Home Sale Questions, Land Contract Questions, Quitclaim and Warranty Deed Questions

If a Term Within the Real Estate Sales Agreement is Not Included Within the Deed, Which is Enforced?

April 29, 2013 by Standard Legal

This is a complicated legal question, and one that is est answered by an examination of a state’s specific laws.

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Categories For Sale by Owner Home Sale Questions, Land Contract Questions, Quitclaim and Warranty Deed Questions

If I Want to Sell My Home by Land Contract, Can I Assign the Existing Mortgage to the New Buyer?

March 28, 2013 by Standard Legal

Most mortgage contracts do not allow for the assumption of the debt by another party, even if that assignment is for the same property.

We suggest a careful reading of the existing mortgage contract, as most mortgage documents specifically prohibit such an action.

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Categories Land Contract Questions

If I Resold my Land Contract Home to Another Person Using a Second Land Contract, What Document Should I Use to Remove Myself from the Middle?

February 12, 2013 by Standard Legal

If a land contract is no longer in effect (i.e., assuming that the ORIGINAL Land Contract has been fulfilled and both parties to that original contract are in agreement on this issue), you may wish to prepare and file a termination statement with the State.

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Categories Land Contract Questions

Can Home Sold on a Land Contract Be Resold to a New Buyer Before the Final Payment is Made?

February 7, 2013 by Standard Legal

A good Land Contract document addresses a secondary sale within its terms (all of Standard Legal’s Land Contracts do!). If the existing Land Contract spells out the terms for any sale by the Land Contract buyer, those terms should be followed expressly.

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Categories Land Contract Questions

Is There a Set Time Limit in Which an Executed Deed Must Be Provided After the Completion of Payments on a Land Contract?

October 9, 2012 by Standard Legal

The vast majority of states have no firm set time period or “grace period” for requiring the tender of a Deed for real property upon the completion of payments on a private mortage.

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Categories Land Contract Questions, Quitclaim and Warranty Deed Questions
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