Learner's picture

I am working with a man about a house. I own the house but he would like to rent it on a land contract. What is a land contract and how do they work?

Posted August 19th, 2010 by Learner
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Xanadu's picture
Posted August 28th, 2010 by Xanadu
Level 1 Novice
Answer

This means that you would still own the house but he would take all other responsibilities. He would pay the taxes and take care of the property. This also gives him the right to do anything he wants to the property without consulting you.