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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.
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∙ 10y ago
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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.
If two unmarried people sign a land contract and split up how can one of them go about getting out of it?
One of the parties could sign a quit claim deed, giving their interest to the other person. As for a contract to purchase, the person keeping the land would have to re-finance in their name.
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.
How would one describe the goddess Aphrodite?
One would describe her as someone with great beauty.
What assets to a contract make it voidable?
If the fulfillment of the contract would violate fundamental rights, or to continue the contract would be detrimental to the health, life and or property of one of the participants of the contract.
Use one word to describe the terrain of vermont.?
mauntain land
If you had to describe yourself in one word what would that word be?
Answerreallyreallyreallyreallyawsomlyawsomesauce.
Which term does not describe one of the three categories into which land plants are classified?
flowering plants
How do you get the court to suspend the contract?
One way would be to convince the court to declare that the contract is invalid for some reason.
Is a contract legal if there is only 1 legal entity involved?
For a contract to be enforceable, it must be legal. Therefore, if one of the parties signing the contract is not authorized to do so, the contract would be void.
What is conveyance deed?
A legal contract between a buyer and a seller which transfers ownership of land or property from the one to the other.
How does one form a contract hire?
A 'contract hire' is a term typically used on the UK to describe an operating lease for a vehicle which is to be used by a business. The details vary from company to company but all will be outlined by the dealership.
