Q: I live in Kentucky and am in the process of buying a home via land contract.
We are using the owners attorney to draft The contract. Is it normal for there to be buyers protection for fire, foundation falls in or any other uninhabitable disaster? I haven’t met to review but I would like to know if something catastrophic happened I wouldn’t be paying for a home I can’t live in. Any advice or what I should ask for?
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A: A land contract is only a lease with option to buy. So you will not own anything until you get a Deed. The lessee is never protected in such a contract.
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