Posted on: 09th Jun, 2011 01:47 pm
I sold a twinplex land contract to a buyer, nothing down. Now he is 4 months in arrears. In Ohio after 5 years the foreclosure may have to go to court. I am willing to compensate the buyer for improvements he has made.
Can I take possession without an attorney?
Can I take possession without an attorney?
On the land contract you stayed as the title owner of the property correct, and until the loan was paid off, title will remain in your name? If that is the case, and your borrower has defaulted, file for notice of default or court order to remove the occupant. I would try to work with occupant any way you can to get property back in your possession, if not, find a lawyer to help.
Hi Rolf,
You should check out the land contract carefully in order to find the clauses mentioned in it. If there is a clause regarding foreclosure of the property is case of default, then you can take possession of the property. However, in my opinion, it is better to contact an attorney and take his help in this matter.
Thanks
You should check out the land contract carefully in order to find the clauses mentioned in it. If there is a clause regarding foreclosure of the property is case of default, then you can take possession of the property. However, in my opinion, it is better to contact an attorney and take his help in this matter.
Thanks
