Legal Question in Real Estate Law in Ohio
Land Contract Default
What steps have to be taken when a person defaults on a land contract due to non payment. I prepared the contract based on others I have had prepared by an ayyorney. It was notarized and filed with the local County Recorders Office. I am the seler of the property and the buyer can no longer make payments.
Asked on 6/15/01, 10:22 am
1 Answer from Attorneys
Gregg Manes
Gregg A. Manes, Esq.
Re: Land Contract Default
If the "tenant" has paid less than 20% or been in the property less than five years then you only need to do an eviction. In other words serve a three day notice and then file an eviction with the Court and then having the bailiff at their door.
Otherwise you have to file a foreclosure which is a costly proceedure.
Good luck!!!
Answered on 7/10/01, 11:06 pm
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