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Full-Text Articles in Law
Financing Condominiums And Cooperatives, Dale A. Whitman
Financing Condominiums And Cooperatives, Dale A. Whitman
Faculty Publications
This article will deal with legal problems relating to the financing of condominiums and cooperatives. While space does not permit a detailed treatment of the non-financing aspects of these forms of ownership, a rudimentary overview of the legal relationships involved will preface discussion of the central topic. Both condominiums and cooperatives are legal formats for “unit ownership” – that is, the ownership of a physically defined portion of a larger parcel of (usually improved) real property. In the majority of cases, the “unit” is a residential apartment in a multifamily housing project. Condominiums are much more tightly controlled by stage …
The Installment Land Contract--A National Viewpoint, Dale A. Whitman, Grant S. Nelson
The Installment Land Contract--A National Viewpoint, Dale A. Whitman, Grant S. Nelson
Faculty Publications
The installment land contract is rarely used in some states, but in many it is the predominant means of vendor financing of land sales. Much has been written about it, but nearly all of the literature focuses on the law of one particular state or another. Our purpose here is to provide a nationwide perspective, with particular attention to the states in which the contract has been widely used and extensively litigated. We propose to examine the reasons for the installment contract's popularity, its advantages and disadvantages, and the risks it presents to both vendor and purchaser.