Legal Question in Real Estate Law in New York
land contract
I am involved in a land contract in which the person is not paying the taxes, water bill and insurance as promised. She is late with payment and has sent me three bad checks (that she has paid for)
Can I do an eviction instead of foreclosure? Is this not a breach of contract?
3 Answers from Attorneys
Re: land contract
I don't know what you mean by "land contract." Is it a rental with option to own or transfer of title conditioned upon full payment?
Bottom line, if you have title to the property you start an eviction. If title is in the name of the other person (even if the deed was not filed) you start a foreclosure action.
Mike.
Re: land contract
New York is a title state, and there are not that many land contracts out there.
You have to take a look at the document itself to determine your remedies.
Foreclosures are very expensive, evictions are cheaper.
If you send me the land contract I can give you an answer in a matter of minutes.
Each month that goes by means lost revenue and lost chances.
Re: land contract
New York is a title state, and there are not that many land contracts out there.
You have to take a look at the document itself to determine your remedies.
Foreclosures are very expensive, evictions are cheaper.
If you send me the land contract I can give you an answer in a matter of minutes.
Each month that goes by means lost revenue and lost chances.
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