Posted on: 29th Mar, 2011 03:42 pm
My exhusband & I purchased a home in 1991 on land contract from my then mother in law for $12,000 @ $125/month. The contract was recorded Dec 1991 in OH. He & I divorced 1995 & stopped making payments, but she continued paying the bank. A college university wants to now purchase the house from her, so she contacted my ex & asked him to sign a Termination of Land Contract form drawn up by her LPA & then send the form to me to sign in front of a notary in my state. My ex-husband says because we are on the land contract, there's a lien against the home. This, he says prevents his mom from selling the home to the university. He keeps pressuring me to sign the termination of contract form so his mom can sell the property. Can I refuse to sign & began making payments again?
I had NO idea that I still had some sort of stake in the property. I was like 21 when my then husband and I signed the land contract with his mother. I don't know what to do, but hate being pressured.
I had NO idea that I still had some sort of stake in the property. I was like 21 when my then husband and I signed the land contract with his mother. I don't know what to do, but hate being pressured.
Welcome DivineWoman,
If your name is mentioned on the contract, then you have the rights to refuse the sale of the property. They can't force you to sign the deed. You can start making payments in order to save the land.
If your name is mentioned on the contract, then you have the rights to refuse the sale of the property. They can't force you to sign the deed. You can start making payments in order to save the land.
You can't refuse the sale of the property, and you don't have a stake in it because your name isn't on the deed, only on the debt, on which you have defaulted. If you don't sign the termination, she will go to court and get a forfeiture. If you want to be spiteful, you can refuse to sign and make her take the extra time of serving you and getting a judgment, but what's the point? Just sign the termination.
If you want, you can start making payments again after you bring the land contract current by giving her the last 15 years worth of payments in one lump sum. Even so, once you have defaulted she has the right to pursue a forfeiture and can refuse payments while she does that.
If you want, you can start making payments again after you bring the land contract current by giving her the last 15 years worth of payments in one lump sum. Even so, once you have defaulted she has the right to pursue a forfeiture and can refuse payments while she does that.
>>and you don't have a stake in it because your name isn't on the deed, only on the debt
How do you know that? When I purchased a home with a Land Contract, my name was on the Deed (along with the previous owner - both our names were on the Deed).
How do you know that? When I purchased a home with a Land Contract, my name was on the Deed (along with the previous owner - both our names were on the Deed).
