Is it legal to sell your interst on a land contract and what rights does the buyer have?

Asked almost 2 years ago - Cincinnati, OH

Not sure how this works , but if you have a contract with someone, aren't they suppose to honor it, my then landlord ask me if I wanted to purchase the rental propertly that i was currently renting, of course I said yes, we when then enter into a land contract, now he has sold his interest to a company that buys note??? this seem shady to me, can they do this without the buyer's knowledge.

Attorney answers (2)

  1. Andrew A Esposito

    Contributor Level 13

    3

    Lawyers agree

    1

    Answered . It will all depend on the terms of your land contract. Bring your contract to a local attorney and have them review it and possibly right an opinion.

    Mr. Esposito is a Ohio-licensed attorney only. The information is not, nor is it intended to be, legal advice. You... more
  2. Michael J. Caticchio

    Contributor Level 14

    1

    Lawyer agrees

    Answered . Probably not shady
    And probably not against terms of land contract

    Contract rights are usually assignable unless otherwise prohibited in the agreement

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