How can I get out of a land contract without any more legal ramifications?

I am currently in a land contract on a house that will not be worth the buyout once the contract has matured. How can I get out of the contract with no legal or financial ramifications?

Asked on July 12, 2012 under Real Estate Law, Ohio


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for the situation.  Unfortunately it is impossible to guide you here with out reading the documents involved in the transaction. That is a binding contract and it will guide your rights and liabilities.  Please go and speak with an attorney about your options. Good luck.

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