Should my buyer record his/her land contract? - Posted by Dan

Posted by Stacy (AZ) on March 03, 2003 at 13:38:52:

A) It’s nearly impossible for the holder of the underlying lien to discover the transaction (and enforce the DOS provision).

B) If the buyer defaults and just leaves, your title will be clean.

C) You can refinance the underlying debt or pledge the property as collateral for further loans. But be careful because some states disallow the seller to encumber the property above what is owed without the buyer’s permission.

Source: William Bronchick

Should my buyer record his/her land contract? - Posted by Dan

Posted by Dan on March 03, 2003 at 09:38:22:

I recently purchased on a land contract and had it recorded. If I resell on a land contract, would I want my buyer to record his/her memorandum or not?
Dan

Re: Some states require - Posted by Ed Copp

Posted by Ed Copp on March 03, 2003 at 16:51:36:

that the land contract be recorded, Ohio and Maryland to name a couple.

Re: No. - Posted by Stacy (AZ)

Posted by Stacy (AZ) on March 03, 2003 at 13:25:34:

The general rule is, when buying, record the contract. When selling, prohibit the recording of the contract (if that’s legal in your state).

Besides the obvious - Posted by Brent-AR

Posted by Brent-AR on March 03, 2003 at 13:27:41:

Why?