Land Contract Forfeiture
A land sale contract is where the buyer pays the seller over time for the deed to the property. The seller holds the title until the contract is paid. Upon payment the seller must give the title to the buyer.
The court recommends that each party to the land sale contract seek the advice of an attorney.
Sellers must provide a forfeiture notice to the buyer. Then the seller may file a complaint with the district court.
A hearing will be scheduled with the judge. The buyer will be served with a comply of the complaint and summons. Both the seller and buyer are to appear in court a the scheduled hearing.
The judge will listen to both sides, and make a ruling. The judge will issue a judgment.
In addition to all relevant evidence, the seller should have prepared a proposed judgment form. This proposed judgment should have empty spaces for date, dollar amounts, and signature of the judge.
The buyer will be ordered to pay the arrearages within the time period allowed. If the buyer does not pay within the item allowed, then the landlord may fill an order of eviction.
In order to avoid forfeiture, a buyer may pay all the remainder of on the contract and costs to regain possession and legal title to the property of the land sale contract.
If the buyer has paid half or less of the contract price, then the buyer has 91 days to pay the remainder and costs in full. If the buyer has paid more than half of the contract price, then the buyer has 180 days to pay the remainder and costs in full.