Full question:
I Have paid one year on a three year land contract I'm half payment behind for January and full February each month a late fee is applied on the tenth day I have the full amount of what I am behind in cash but seller won't accept it instead served me a ten day eviction notice I see if I have have paid 20% othe the purchase price a eviction is no longer applied it becomes a foreclosure in Ohio and if I have have the money for behind payment's he has no choice but to accept it is this true please help thanks for your time anything you can help me with to keep my home will be much appreciated.
- Category: Real Property
- Subcategory: Contract for Deed
- Date:
- State: Ohio
Answer:
In Ohio, if you default on a land installment contract, the vendor cannot enforce forfeiture of your interest until thirty days after the default (Ohio Rev. Code § 5313.05). If you make all required payments within this thirty-day period, you can avoid forfeiture.
After the thirty days, the vendor must provide a written notice specifying the non-compliance and stating that the contract will be forfeited unless you comply within ten days (Ohio Rev. Code § 5313.06).
If you have paid at least twenty percent of the purchase price or have made payments for five years, the vendor must proceed with foreclosure instead of eviction (Ohio Rev. Code § 5313.07). Since you have the cash to cover your overdue payments, you should communicate this to the vendor. They may be obligated to accept your payment to avoid forfeiture.
For further assistance with your situation, you may want to consult a legal professional.
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.