Is it necessary to have a a Land Contract Agreement filed before acting on defaulting buyers?

Asked over 1 year ago - Euclid, OH

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?

Attorney answers (2)

  1. James Thomas Dixon

    Contributor Level 10

    Answered . Please feel free to contact me. I have a few questions, and perhaps then I may be able to help.

    This response does not constitute legal advice and does not create an attorney-client relationship.
  2. R. Russell O'Rourke

    Contributor Level 13

    Answered . 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... more

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