How do I, as a purchaser, get my name taken off a land contract? 10 Answers as of April 10, 2014

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Frederick & Frederick PLC | James P Frederick
You may not be able to do so. It is, by definition, a contract, which is binding on both parties. More information is needed about why you want out of the deal, among other things. The seller may allow you to get out, for a price. The seller might also agree to just let you walk away. If not, the terms of the contract will dictate your rights and responsibilities.
Answer Applies to: Michigan
Replied: 4/10/2014
Law Office of Pamela Braynon | Pamela Y. Braynon
Quit claim (what ever portion that you own) it to someone else.
Answer Applies to: Florida
Replied: 4/10/2014
Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
By paying the contract in full, or selling your interest in the contract or entering an agreement with the seller of the land to release you from the contract.
Answer Applies to: California
Replied: 4/10/2014
Goldsmith & Guymon
Goldsmith & Guymon | Dara Goldsmith
You need to review the contract for the terms.
Answer Applies to: Nevada
Replied: 4/10/2014
James Law Group
James Law Group | Christine James
Much more information is needed to answer your question. What are you trying to accomplish and why?
Answer Applies to: California
Replied: 4/10/2014
    James T. Weiner & Associates, P.C.
    James T. Weiner & Associates, P.C. | James T. Weiner
    This is not estate planning, but real estate. Land contracts are usually contracts of no recourse against the buyers the land is security for the purchase. but not always so you need to take the land contract to an attorney and have it reviewed. However you left out some facts so are you a joint purchaser? Does the other purchaser(s) want to continue to buy the property? If so its as simple as quit claiming your interest in the property to the other purchasers and have it recorded in the local county register of deeds. If you are the sole purchaser and do not want to pay anymore. Quit claim your interest back to the seller.
    Answer Applies to: Michigan
    Replied: 4/10/2014
    Charles M. Schiff, Attorney at Law
    Charles M. Schiff, Attorney at Law | Charles M. Schiff
    A land contract is an enforceable contract. You do not have an absolute right to remove your name if you are a party to that contract. Your best approach is to contact the party or parties on the other side of this contract and find out whether they will agree to let you out of the contract.
    Answer Applies to: Minnesota
    Replied: 4/10/2014
    Darrell B. Reynolds, P.C. | Darrell B. Reynolds
    The only way you can do that is when all parties agree to take your name off of the contract.
    Answer Applies to: Georgia
    Replied: 4/10/2014
    Ashcraft & Ashcraft, Ltd.
    Ashcraft & Ashcraft, Ltd. | Randall C. Romei
    If the contract has been accepted by the Seller you would be obligated to complete the promise made. You will have to find a way to terminate the contract or obtain the release of the Seller. If the purchaser group can name nominees then you can withdraw under agreement with the other purchasers (if any) provided your withdrawal does not jeopardize the mortgage application obligations you undertook in the contract.
    Answer Applies to: Illinois
    Replied: 4/10/2014
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    The most common way is to pay the land contract off which results in your name being placed on the deed. If you are co-purchaser, you'll have to have the land contract to reformed with the agreement of both the seller and the other purchasers. I suspect there are a number of facts which are not mentioned, and therefore recommend that you engage an attorney.
    Answer Applies to: Michigan
    Replied: 4/10/2014
Click to View More Answers: