john boy? - Posted by diana

import · February 23, 2002, 12:07pm

Posted by Nathan(oh) on February 23, 2002 at 13:10:41:

You can add a clause in your LC that will not allow them to record or else it violates the agreement. I use that all of the time.

import · February 23, 2002, 12:07pm

Posted by diana on February 23, 2002 at 13:07:44:

I talked to you before about L/C.
If I sell my home on a land contract and don’t record it to stay away from due on sale. What happens if the new buyers record it with out me knowing.
This might be a dumb question but,

How does the mortgage company find out anyway? Does the records office send them a record of it?

Thanks,
Diana

import · February 23, 2002, 1:21pm

Re: john boy? - Posted by Randy_OH

Posted by Randy_OH on February 23, 2002 at 14:21:12:

Diana,
A couple of additional thoughts for you. In my county, the LC must be notorized to be eligible for recording. Also, in Ohio, state law requires LCs to be recorded. However, I think recording and other requirements mainly protect the buyer. I have found court cases that enforce LCs that do not meet all the legal requirements, so is it really necessary to record? Just some things to think about.
Randy