what happens to a land contract deal when you get a divorce?

Asked by Lynn Delashmutt, Omaha, NE Sat Oct 4, 2008

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Dean Uhing, Agent, Omaha, NE
Mon Oct 6, 2008
Is that a question you are asking in general? Or is this a personal situation you are facing? If you are, contacting an attorney is the best to route to take.
Divorce should have no effect on the agreement you have with the seller. If a married couple entered into a land contract with the seller, they both are obligated to its terms, much like any other mortgage or financing agreement. If you are trying to sell this property under land contract, remember you do not possess legal title to the property, the seller still maintains such title. The buyer, under a land contract, has equitable title.
The divorce settlement between husband and wife would have to address all the assets and obligations you made together during the marriage. This is where attorneys need to be involved.
Dean Uhing
Prudential Ambassador Real Estate
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Vicky Chrisn…, Agent, Purcellvile, VA
Sat Oct 4, 2008
You will need to talk with a local real estate attorney.
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