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Contract for Deed
How can I remove a recorded agreement for deed contract?

How can I remove a recorded agreement for deed contract?

Full question:

How can an agreement for deed contract which never should have been submitted to the clerk for recording be removed from public records or reversed when only one of the parties of the contract is available? The 'buyer' did not complete the transaction and never bought the property but paid to have a copy of the contract recorded as if it were real, resulting in a change in the tax records reflecting him as the new owner. The contract is null and void and the culprit has moved out of state and can not be found.

Category: Contract for Deed
Date: 04/07/2025
State: Florida

Answer:

Filing a contract for deed typically does not change ownership records until payments are complete and a new deed is executed. A contract for deed, or land contract, serves as an alternative financing method for purchasing property. The buyer does not receive an actual deed until they fulfill the payment terms of the contract. Therefore, until a deed is issued, ownership remains unchanged, and the property can still be foreclosed if the mortgage is not paid.

To address the issue of the recorded contract, you may consider filing a quiet title action. This legal process allows you to ask the court to confirm true ownership of the property and potentially issue an injunction to correct public records. If the other party does not respond to the court summons, you may be able to obtain a default judgment in your favor, which can help restore accurate ownership records.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

When a contract for deed is in default, what process must the seller use to regain possession and equitable title to the property?

When a contract for deed is in default, the seller typically must provide notice to the buyer of the default and allow a specified period to cure the default, as outlined in the contract. If the buyer fails to remedy the situation, the seller may initiate a legal process known as eviction to regain possession of the property. Additionally, the seller may seek to terminate the contract and reclaim equitable title, but this often requires legal action to confirm the seller's rights in court.

How do you record a contract for deed?

To record a contract for deed, you must first ensure that the contract is properly signed by both parties. Then, file the original contract with the county clerk or recorder's office in the jurisdiction where the property is located. This process typically involves paying a recording fee. Recording the contract provides public notice of the agreement and protects the buyer's interest in the property.

What type of consideration is required in order to make a deed valid?

To make a deed valid, there must be valid consideration, which is usually a monetary payment or something of value exchanged between the parties. This consideration must be sufficient to support the transfer of ownership. While the amount does not need to be large, it must be something tangible to demonstrate a legitimate transaction.

Can you remove someone from a deed without their permission?

Generally, you cannot remove someone from a deed without their permission, as this would require their consent to transfer or relinquish their ownership rights. If the co-owner agrees, a new deed can be executed to reflect the change. If consent cannot be obtained, legal action may be necessary, such as a partition action, to resolve ownership disputes.

How do I report a contract for deed on my taxes?

When reporting a contract for deed on your taxes, you typically report the income received from the buyer as interest income on your tax return. Additionally, you may need to report any gain or loss from the sale of the property when the contract is fulfilled. It's advisable to consult a tax professional to ensure compliance with IRS regulations and to understand how to properly report these transactions.