Land Contracts
Exactly what are they and how safe are they? My son was interested in a property where the representatives only work with "Land Contracts." I say representatives because this supposed investment company's name shows up no where on the tax record. My son wanted to get the property, rehab it with his money and then sell it. However, his name would be nowhere on the deed, so how would he sell it? I advised him to talk to our attorney, who advised him that although Land Contracts are not necessarily a "bad thing," that this one, as written, offered him no protection.
Any comments?
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