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

    Sep 30, 2010, 11:36 AM
    Walking away from a land contract
    My husband and I entered into a land contract in 2007 for an older home with the contract saying we will can get a conventional mortgage within 5 years, we now wish to move out of the town it is in and would like to just leave the house, we are not interested in getting in of our money back. If we simply move and quit paying the payment every month will the property just fall back to the seller? Can the seller sue us for the balance or for any thing being changed at the house? We've done some improvements but we've changed a lot in the house like opening up 2 small rooms into one large room and turning a ususable sun room into a covered deck. We've also added hardwood floors, had the kitchen cabinets refinished and some other improvements, again we do not want any money back we just want to leave the house and move into a new house 3 hours away.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    Sep 30, 2010, 12:21 PM
    Quote Originally Posted by mrskent View Post
    .... If we simply move and quit paying the payment every month will the property just fall back to the seller?
    Probably, depending on exactly what the contract says. The right thing to do would be to give the seller at least 30 days notice so that he can make plans.

    Quote Originally Posted by mrskent View Post
    ... can the seller sue us for the balance or for any thing being changed at the house?
    ...
    Again, depends on the wording of the contract. Did you get his permission to make the improvements?
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