Legal Question in Real Estate Law in Virginia

I'm selling an unimproved residential lot and carrying the loan. What protection do I have in case of default if he builds on the lot? We are talking about a loan with a balloon payment after 5 years.


Asked on 5/11/11, 8:53 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Other than the right to foreclose on the loan, probably, little else unless

you're also able to record a lien against the building.

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Answered on 5/12/11, 9:00 pm


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