Baltimore, MD asked in Real Estate Law for Maryland

Q: want to know about a land installment contract

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2 Lawyer Answers
Thomas C. Valkenet
Thomas C. Valkenet
Answered
  • Baltimore, MD
  • Licensed in Maryland

A: They are a thing. But to receive a meaningful response, you should narrow your question. They are complicated, both legally and practically.

Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Crownsville, MD
  • Licensed in Maryland

A: What about land installment contracts do you want to know?

It might be helpful to contact a lawyer to go over the particular situation and ways to structure. Maryland law allows land installment contracts, though there are other ways to structure transactions where the goal is to pay the seller in installments without getting a third party mortgage (e.g., rent with option to purchase or seller-held mortgage). There are pros and cons to each and it would likely help to get competent legal advice on the options and attorney assistance in preparing and recording any relevant paperwork.

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