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Can a refi du plus be done on a land contract that has no mi through fannie Mae?
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How would one describe a land contract?
A land contract is a contract between seller and buyer of property. A contract is only made when an agreement between seller and buyer has been reached. The seller becomes the land owner only when the full payment has been made.
How much interest can a seller charge on land contract?
A seller can charge whatever interest they wish on a land contract. The buyer doesn't have to sign a contract if they don't agree with the terms.
What is an asset light model?
asset light model is a business model where businesses now instead of purchasing the land enter into a contract with the land owner, where they share a certain percentage of profit arising out of the business done on the land. this helps in saving a huge cost of land to the business
If we signed a construction contract for the purchase of land and the build of a home but one of the land owners refused to sign the contract what are our legal ramifications?
If one of the fee owners didn't sign the contract then you don't have a valid contract. In order for the contract to purchase land and build on it to be valid and binding on the parties it must be signed by all of the purchasers and all of the fee owners.
Can a land broker sell property without owners signing a contract?
That would not be legal. Property can only be transferred through the use of written documents.
Is an oral contract for land enforceable in Massachusetts?
No
On a land contract in Ohio can the lesses resell the property?
A land contract is just like any other contract, complete with contract law principles. No one can sell the property until either the contract is either fufilled or breached. If it is fufilled, then it becomes the property of the one purchasing the property and after they have successfully completed the contract, they then are free to sell it to whomever they wish. But, if the contract is breached, it is then still the original owners and they can do as they wish, keep the property, sell the property or find another individual willing to enter into another land lease contract. So, while the property is tied up in a land lease contract, no one can sell or buy it until either a satisfaction or breach of the contract is committed.
If someone purchases a lot of land and is under contract to purchase that land and it is deemed bad land after signing the contract how do you discharge this contract?
You would execute the inspection contingency clause in the contract that permits you to terminate the contract and reclaim your deposit after the inspection turns up material defects that you will not accept. Additional comment: That's why it is important to consult an attorney BEFORE you sign a P & S Agreement.
What is a grant for a piece of land in exchange for a promise to use the land for a specific purpose?
contract
Does a land contract need to be recorded at the courthouse?
All buying and selling of Realestate must be registered with the Government. Where I live this is done at Government Registries Office. Where you live that may be the Court House.
Can you claim money back on an unlawful verbal land contract in the state of Ohio?
If you made a deposit on land and the sale didn't go through then you could sue the recipient of the deposit if you can prove you paid it and that it was paid as a deposit on the land. That may be difficult if there was no agreement in writing.
If you have a rent to own contract on a double wide and land and the owner dies is your contract void?
You'll have to look at the contract and see if it addresses this issue.
