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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] You meant "buyer" right?? Posted by Ward-CA- on July 22, 2010 at 6:27 PM In Reply to: Do you mean land contract? posted by Rick Harmon on July 22, 2010 at 4:54 PM Rick, In your second sentence I think you meant to say, "...buyer does NOT get a deed or title....." --------Ward ============ : This instrument is sometimes called a contract for deed, too. Not very common isn my part of the world since the 1970's but still used frequently in the mid-west and eastern states, especially where selling on installments (aka seller terms or seller financing). : In this technique, seller does NOT get a deed or title until they have satisfied the terms of the contract. : In my state, The primary downside for the seller is that it is necessary to foreclose on a defaulting buyer (vendee) using such an instrument. Downside to buyer is that, evem if the buyer performs as agreed, seller may not produce the transfer doc (deed) in a timely basis (such as when they've died!) and this plays havoc with the buyer's ability to gain marketable title. Follow Ups: Clear as mudd... Rick Harmon 8:02 AM, 07/23/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Rick, : In your second sentence I think you meant to say, "...buyer does NOT get a deed or title....." : --------Ward : ============ : : : This instrument is sometimes called a contract for deed, too. Not very common isn my part of the world since the 1970's but still used frequently in the mid-west and eastern states, especially where selling on installments (aka seller terms or seller financing). : : In this technique, seller does NOT get a deed or title until they have satisfied the terms of the contract. : : In my state, The primary downside for the seller is that it is necessary to foreclose on a defaulting buyer (vendee) using such an instrument. Downside to buyer is that, evem if the buyer performs as agreed, seller may not produce the transfer doc (deed) in a timely basis (such as when they've died!) and this plays havoc with the buyer's ability to gain marketable title. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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