Legal Question in Real Estate Law in Ohio
land contract sale
I sold a house land contract person moved he made down payment and has not paid in two months. I did not file the land contract with the court. Can i just evict or do I have to file a notice of forclosure first. Thank you in ad
1 Answer from Attorneys
Re: land contract sale
If the land contract was never recorded, and the buyer moved, then I would do nothing. An eviction is to recover possession, which you already have. A foreclosure is required only if the buyer has paid 20% of the purchase price, or has paid as required for 5 years.
If your land contract had been recorded, you would have had to file a forfeiture to get it released of record.
Many land contracts go unrecorded because a land contract often violates mortgage terms, but the law imposes a duty on the SELLER to record a land contract.
No BUYER should ever be satisfied with an unrecorded contract.
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