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I am buying a home on land contract. the owner just sent a 3 day notice to pay rent or quit. he is trying to sell my contract

Asked almost 3 years ago - Waterloo, IA
Business Contracts Renting

Can he do this? It is not rent The house is falling down. He states in his letter that the contract allows me to walk away anytime without penelty. I do not know if this is true

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Attorney answers (1)

Reputation Level 6
Answered over 2 years ago. Business Attorney in Muncie, IN.
It would depend upon the terms of your agreement; normally a landlord can sell the property and the lease or leases that pertain to the property.
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