Land Contracts

Summary

The report discusses the challenges and issues surrounding land contracts in Indiana, particularly in the context of the foreclosure crisis. It highlights the problems of vacant and abandoned housing, bank walkaways, and distressed asset sales. The report also examines the resurgence of land contracts, also known as contract buying, and the concerns they raise, including lack of habitability, chain of title issues, inflated interest rates, and common violations of federal statutes. Additionally, it touches on the topic of lease-options and rent-to-own agreements, which are often used to circumvent legal protections for buyers.

Details

Subject

Land Contracts

Summary

The report discusses the challenges and issues surrounding land contracts in Indiana, particularly in the context of the foreclosure crisis. It highlights the problems of vacant and abandoned housing, bank walkaways, and distressed asset sales. The report also examines the resurgence of land contracts, also known as contract buying, and the concerns they raise, including lack of habitability, chain of title issues, inflated interest rates, and common violations of federal statutes. Additionally, it touches on the topic of lease-options and rent-to-own agreements, which are often used to circumvent legal protections for buyers.

Report Type

study

Report Title

Land Contracts: The Mess the Foreclosure Crisis Left Behind

Authoring Body

Notre Dame Law School