Legal Question in Real Estate Law in Ohio

Land Contract

I (owner A) originally sold a house via a land contract. The buyer (owner B, investment company) in turn (without my knowledge), sold the house via another land contract (owner C), who then sold to the current resident (owner D). When I sold originally I also signed for a change of address to the investment firm so that they would receive the tax information from the mortgage company. Somewhere between B - D, there was a default/late payment on the mortgage - and since I had signed the change of address, I wasn't notified since the bank was sending notice to the investment firm's account. This was resolved without my knowledge - but then I became aware the second time that foreclosure activities started (long story of how I found out). Anyway, I got an attorney for that - and at the time his advice was to get the parties to catch up payment. This happened - however, at the present time we can't find owner B or C. Do I have any rights to sell to owner D, to get him to assume the loan, or any other remedy? Thanks in advance.


Asked on 2/07/02, 8:02 pm

1 Answer from Attorneys
Gregg Manes Gregg A. Manes, Esq.

Re: Land Contract

First of all, are the land contracts valid and recorded. If not they may be avoided. Your chain of title sure is confusing. This is a good reason to prohibit assignment in a land contract.

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Answered on 2/22/02, 8:29 pm


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