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  1. #1

    Default Forclosure Without Deed of Trust

    If a seller and buyer entered into a contract (installment land contract), without a deed of trust, what recourse does the seller have in forclosure or vacate preceedings?

  2. #2
    Join Date
    Jan 2006
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    28,313

    Default Re: Forclosure Without Deed of Trust

    Is this just a general question or is there some specific issue involved?

    There are about 20 states that do not use a deeds of trust and of those states that do use a trust deed, there are also other means to secure the interest in the property and allow for foreclosure.

  3. #3

    Default Re: Forclosure Without Deed of Trust

    I am in Colorado.

    While Colorado does allow land contracts, I was wondering what recourse the seller would have in evicting a tenant. Does the seller need to follow the precidings for a foreclosure or can the seller simply tell the buyer to get out?

  4. #4
    Join Date
    Jan 2006
    Posts
    28,313

    Default Re: Forclosure Without Deed of Trust

    You can never tell a tenant to get out (well, almost never). Even in the case of rental tenancies, there are requirements to evict a person.

    Your rights would be determined by the contract. Many land contracts include clauses to where a failure by the buyer to perform as required causes the contract to become voidable (not necessarily void) and all money paid to date is treated as rent for the period the buyer occupied the unit.

    You would still have to evict the person if they refused to leave willingly.

    If you want to void the contract, if there are no provisions within the contract and the buyer is not willing, you have no option but to sue them to void the contract and evict them from the premises.

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