REFinBlog

Editor: David Reiss
Brooklyn Law School

January 7, 2018

Installment Land Contracts:  Uses, Abuses, and Legislative Proposals

By David Reiss

Professor Durham

Professor Freyermuth

 

 

 

 

 

 

 

 

 

Professors’ Corner

A FREE monthly webinar featuring a panel of law professors,

addressing topics of interest to practitioners of real estate and trusts/estates

Tuesday, January 9, 2018

12:30 p.m. Eastern/11:30 a.m. Central/9:30 a.m. Pacific 

Installment Land Contracts:  Uses, Abuses, and Legislative Proposals 

Speakers:

  • Professor Jim Durham, University of Dayton
  • Professor Wilson Freyermuth, University of Missouri

Moderator:

  • Professor Chris Odinet, Southern University Law Center and Visiting Professor, University of Iowa

In the wake of the mortgage crisis, several jurisdictions have seen a resurgence in the use of the installment land contract as a financing device. Use of the installment contract creates a number of risks, particularly in jurisdictions where existing precedent and/or statutory provisions do not clearly articulate the appropriate procedures for the vendor’s enforcement of contract following the vendee’s default. Some investors have sought to capitalize on this lack of clarity, effectively using installment contracts as the equivalent of “rent-to-own” contracts that provide for landlord-like default remedies while disclaiming any responsibility for the habitability of the property.

Professors Durham and Freyermuth will discuss the existing legal background governing the characterization and enforcement of installment land contracts and the wide variety of approaches taken by various states. They will also discuss the provisions and the merits of recent legislative proposals designed to regulate some of the more abusive uses of the installment land contract device.

Register for this FREE webinar program at http://ambar.org/ProfessorsCorner.

Sponsored by the ABA Real Property, Trust and Estate Law Section Legal Education and Uniform Laws Group

 

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