Pueblo, CO asked in Contracts and Real Estate Law for Colorado

Q: If I bought my home on a contract between the owner and I and have made all payments can I sell the property?

My buyer has cash but wants to use a land trust company to purchase. Can this work?

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2 Lawyer Answers
Donald C Eby
Donald C Eby
Answered
  • Colorado Springs, CO
  • Licensed in Colorado

A: If you have purchased the home, then yes, you can sell it. But, your question seems to indicate that your seller has never delivered title to you. In order to sell you'll need to deliver title to the buyer. Hopefully, your seller will cooperate.

Bruce Alexander Minnick agrees with this answer

A: Your buyer can use whatever vehicle he wants to purchase the home. However, you cannot sell the home to anyone until you have a deed in your name; why? Because you cannot convey your ownership to someone else without having the deed. You and the prospective buyer can use a contract for deed; however, the contract cannot be fulfilled until you actually own the home.

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