QUESTION
Is that possible to remove the buyer that left from the contract?
Asked on Apr 22nd, 2017 on Estate Planning - Ohio
More details to this question:
I am a seller on a land contract. At the time of the contract, there were two people put in the contract as the buyer. One has moved out of the home and has not paid but one monthly payment. The other buyer is still living at the residence and paying off the contract. The contract states approval from all parties is needed to amend the contract.
1 ANSWER
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Unless you get the consent of the third person, you'd need to get a court judgment to remove them from the contract. Which I'd recommend before the land contract is completed and the deed is issued in both names.
Answered on Jul 20th, 2017 at 10:30 AM