Posted by William Bronchick on August 17, 2005 at 22:09:38:
I would take a quitclaim deed and record it. Plus, I would ask for a
formal cancellation and general release signed by the buyer.
Cancellation of Contract vs. Quit Claim Deed - Posted by Installment Seller
Posted by Installment Seller on August 17, 2005 at 14:56:34:
I was the Seller of a home on contract, and without getting into the long story of the whole situation, I have chosen to take the property back from the Buyer, who is offering it back voluntarily. I have been offered by the Buyer’s attorney the choice of either a cancellation of an installment contract or a quit claim deed. Is one better than the other for me, as the Seller, who will be looking to sale the property again shortly? The contract was for property in Indiana, and the contract was never recorded (it was executed about 6 weeks ago and had immediate signs I would be taking it back).