Monday, January 8, 2018
A FREE monthly webinar featuring a panel of law professors,
addressing topics of interest to practitioners of real estate and trusts/estates
Members of the AALS Property and Real Estate Transactions Sections are welcome and encouraged to register and participate
Tuesday, January 9, 2018
12:30 p.m. Eastern/11:30 a.m. Central/9:30 a.m. Pacific
Installment Land Contracts: Uses, Abuses, and Legislative Proposals
· Professor Jim Durham, University of Dayton
· Professor Wilson Freyermuth, University of Missouri
· Professor Chris Odinet, Southern University Law Center
In the wake of the mortgage crisis, several jurisdictions have seen a resurgence in the use of the installment land contract as a financing device. Use of the installment contract creates a number of risks, particularly in jurisdictions where existing precedent and/or statutory provisions do not clearly articulate the appropriate procedures for the vendor’s enforcement of contract following the vendee’s default. Some investors have sought to capitalize on this lack of clarity, effectively using installment contracts as the equivalent of “rent-to-own” contracts that provide for landlord-like default remedies while disclaiming any responsibility for the habitability of the property.
Professors Durham and Freyermuth will discuss the existing legal background governing the characterization and enforcement of installment land contracts and the wide variety of approaches taken by various states. They will also discuss the provisions and the merits of recent legislative proposals designed to regulate some of the more abusive uses of the installment land contract device.
Register for this FREE webinar program at http://ambar.org/ProfessorsCorner.
Sponsored by the ABA Real Property, Trust and Estate Law Section
Legal Education and Uniform Laws Group