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    kkirch42's Avatar
    kkirch42 Posts: 2, Reputation: 1
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    #1

    Jan 10, 2010, 08:13 PM
    Land contract buyer selling property, how does this affect title?
    Land contract buyer wants to sell property he is buying on contract, previous owner's are giving him permission. Land contract buyer has had credit problems, will his credit affect title when he sells property to new buyer?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jan 10, 2010, 08:16 PM

    Well first who are you in this ?

    But the buyer does not own anything to sell but the contract and the seller will have to agree to have another buyer take over the contract.

    There is no deed or title transferred till the sell is complete.

    Normally the seller can ask for a fee to pay them for the cost of a new contract, and the seller can ask for a sum also.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #3

    Jan 11, 2010, 05:08 PM

    The guy who is the contract buyer does not have the title to the land. That is being held by the original owner. The guy's credit who is selling his contract will not affect the sale in any way.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jan 11, 2010, 05:14 PM

    As Chuck said, the only thing the buyer can sell is the contract. Depending on the terms of the contract, the seller may or may not have to agree to it.

    The buyer doesn't have title to sell. His credit should not affect anything if he's selling.
    kkirch42's Avatar
    kkirch42 Posts: 2, Reputation: 1
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    #5

    Jan 12, 2010, 07:29 PM

    Thanks so much, your answers have solved my questions.
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