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Land Contract Template Ohio  Form

Land Contract Template Ohio Form

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Instructions and help about land contract template ohio

hey guys what's going on it's attorney up with littlejohn here to go over the real estate and probate question of the week uh today's question comes from marcus marcus wants to know is the land installment contract required to be recorded under ohio law well this is a great question so when it comes to land installment contracts uh the law requires that they get recorded to be effective amongst the parties okay essentially a land installment contract is a kind of like a rent to own scenario and so what you commonly see are situations where the vendi also known as the buyer has the contract recorded and then they take that recorded contract to their bank and then they're able to get a loan to pay off the seller or vendor so it's recommended that they be recorded to protect your rights however what we see a lot is where a seller may have a mortgage on a piece of property and if they record the land installment contract it'll trigger an acceleration clause under that mortgage and so as a

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