We entered into a signed, witnessed and notarized Land Contract (we are being the 'Bank' for a family member) but did not record the Agreement. The buyers are in default and we want to cancel the Land Contract as provided by law. Do we need to record the Agreement before we do that? Will there be a problem because it is over 20 days since we had it notarized?
Construction / Development Lawyer
Since you know that you had to have the contract recorded within 20 days after you had it signed, I assume that you read the Ohio Land Installment Contract statute. I have included a link to it just in case you haven't.
You do have an issue to be concerned about, but you have rights, too. It may be as simple as having an attorney contact them to try to work out a reasonable resolution.
I would be happy to discuss this with you. We offer free initial telephone consultations.
IF YOU FOUND THIS ANSWER HELPFUL PLEASE MARK IT SO. The answers provided by R. Russell O’Rourke, Attorney-at-Law as a free informational service only. Without thoroughly reviewing your case neither I nor any other attorney can give you a complete answer upon which you could or should rely. Your reading of this or any of my answers does not create an attorney client relationship between us. Legal cases are often very fact specific and need a qualified attorney to properly review ALL of your materials and fully discuss your case with you before you decide the right course of action to take. YOU SHOULD CONSULT WITH AN ATTORNEY IN PERSON who has specific expertise in the area of law you are asking about.