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    soverton's Avatar
    soverton Posts: 1, Reputation: 1
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    #1

    Apr 30, 2009, 03:00 PM
    0% interest land contract in MI-is it legal?
    Need to sell a home I inherited and wish to sell it on land contract with 0% interest is this legal in the state of MI? A real estate agent told me she thought it was illegal to not charge interest but to ask my accountant. I thought it is more a legal question instead of a accounting question. So does anyone know can I sell and charge no interest on my land contract in Michigan?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 30, 2009, 06:43 PM

    I never list a "interest" in any of my land contracts, they merely list a amount of money to pay paid per month for so many months, no more , no less.
    sheldane's Avatar
    sheldane Posts: 1, Reputation: 1
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    #3

    Oct 26, 2009, 08:27 AM

    Where can I get a free copy of land contract for the state of MI?
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