What happens if a seller forecloses on a home sold on a Land Contract? 4 Answers as of August 21, 2015

The seller passed away after we purchased a home on a land contract. The family let the home go into default. The home is foreclosed on and in the redemption period. Do we need to make payments if family is not asking for them? We do not wish to keep ownership after the redemption period.

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Ronald K. Nims LLC | Ronald K. Nims
If you don't wish to keep ownership, why don't you just sign the deed over to the seller?
Answer Applies to: Ohio
Replied: 8/21/2015
Minor, Bandonis and Haggerty, P.C.
Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
Foreclosure is a complex process. To say the home has been "foreclosed on" describes a portion of that complex process. You should have been named as a defendant in the foreclosure lawsuit. My best advice is to contact a lawyer knowledgeable in foreclosures, and make sure that your interests are secured. BTW, you should be able to recover something against the defaulting estate.
Answer Applies to: Oregon
Replied: 8/20/2015
Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
You should consult a probate or a real estate attorney to give you the right advice.
Answer Applies to: California
Replied: 8/20/2015
Sebby Law Office
Sebby Law Office | Jayne Sebby
You entered into a contract to buy a house. The executor of the seller was obligated to protect the deceased assets and apparently that didn't happen. If you don't want to keep the house, and there are ways you could keep the house if you wanted to, the estate owes you a refund of the money you've paid to date on the property minus what you would have paid if you had just rented the property.
Answer Applies to: Nebraska
Replied: 8/20/2015
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