Legal Question in Real Estate Law in Ohio

land contract and alienation clauses

is it common practice for a mortgage holder to enforce a Alienation Clause because of a land contrtact on a mortgage that is current, and never late? 200K+ mtg, don't know if that matters to them or not


Asked on 11/19/07, 10:39 pm

1 Answer from Attorneys
Robert Rosplock Rosplock & Perez

Re: land contract and alienation clauses

"Common" depends on the lender, and the decision is usually based on the interest rate of the loan. If a lender can call a $200,000 mortgage bearing inrerest at a fixed rate of 5%, and put the money back out at 7%, it is likely to do so. It is also likely that it will leave alone a performing mortgage which bears interest at a rate higher than the current market rate if it is satisfied with its security.

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Answered on 11/20/07, 8:52 am


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