Legal Question in Real Estate Law in Kentucky
Land Contract Agreement
My neighbor has agreed to sell his property to my husband and me, and has also agreed to sell it on a Land Contract. Since neither one of us has an attorney, do you have a form that could be used for this transaction?
1 Answer from Attorneys
Purchase of land.
I'm sorry to say that you really ought to hire an attorney UNLESS you're willing to take a chanceand lose 100% of what you buy. If that's an acceptablerisk, then by all means, try to find some form somewhere,e.g., at your local courthouse/registry.
(You might also possibly incur some serious liabilities, e.g., for pollution or underground oil tanks!).
But most likely, you ought to confer with anattorney. Transfers of land, called conveyancing, is a very highly technical field fraught with pitfalls which can easily lose you the land even if noone intends to rip anyoneelse off.