Posted by WilliamGA on February 27, 2000 at 23:20:19:
If I could get the buyer to go along with it, I would NOT record the LC. I would instead hold all the docs to record in an escrow. The advantage of this is that as the owner, you can then still borrow against the property if you need to. In addition, getting them out of the house if they default on the loan may be easier on an unrecorded land contract. You may be able to simply evict instead of having to foreclose.