74 MCL 600.3101 et seq. (foreclosure by court process; six-month redemption period in which to pay the full accelerated
balance). Michigan also allows for nonjudicial foreclosure, but land contracts generally do not contain a power of sale authorizing
nonjudicial foreclosure; so if a lender elects to foreclose the land contract, it will be through judicial foreclosure. 75 Forfeiture is
only permitted if the contract provides for the remedy. MCL 600.5726.
76 MCL 600.5728.
77 MCL 600.5726 et seq; MCR 4.202.
78 MCL 600.5744(2)(f). The buyer is not required to pay amounts that come due during the redemption window as part of the
redemption amount. See Wilson v. Taylor, 457 Mich. 232 (1998).
79 MCL 438.31(c)(2)(6).
80 Mich. Comp. Laws § 565.354.
81 Mich. Comp. Laws § 565.356 et seq.
82 Mont. Code Ann. § 15 -7-305(4). Despite these two references to contracts for deed being recorded, the statute does not
explicitly authorize a buyer to record the agreement. However, these references could be taken as an implicit indication that
contracts submitted for recording should be recorded and that a buyer should not be prevented from recording.
83 Nev. Rev. Stat. § 598.0923(5). Note that there is some debate about who can raise deceptive trade claims in Nevada: https://
www.nvbar.org/wp-content/uploads/NevadaLawyer_April2020_DJustice-Unchained.pdf.
84 N.C. Gen. Stat § 47H-2(c).
85 N.C. Gen. Stat § 47H-2.
86 The statement, in 14-point type, boldface, capital letters, must read: “THIS PROPERTY HAS EXISTING LIENS ON IT. IF
THE SELLER FAILS TO MAKE TIMELY PAYMENTS TO THE LIEN HOLDER, THE LIEN HOLDER MAY FORECLOSE ON
THE PROPE28R TY, EVEN IF YOU HAVE MADE ALL YOUR PAYMENTS.” N.C. Gen. Stat. § 47H-6.
87
N.C. Gen. Stat § 47H-6.
88
See N.C. Gen. Stat § 47H-6(c), N.C. Gen. Stat § 47H-8 (pointing out that the UDAP statute, N.C. Gen.
Stat. 75-1.1,
would not apply to sale of a homeowner’s primary residence through contract for deed; by inverse implication, it would
apply otherwise).
89
N.D. Cent. Code §§ 32-18-01 to 32-18-06.
90
N.D. Cent. Code § 32-18-06.
91
Or. Rev. Stat. § 593.915.
92
Or. Rev. Stat. § 593.915(6).
93
68 P.S. § 901-906.
94
68 P.S. § 907.
95
Tex. Prop. Code Ann. § 5.070 (West). See Weaks v. White, 479 S.W.3d 432 (Tex. App. 2015) (after
exercising right of
rescission, buyer must restore to seller the value of post-rescission occupation of the property). Cf. Smith v. Davis, 462
S.W.3d 604, 615 (Tex. App. 2015) (buyers on land contract were entitled to a full refund of monies paid, with no offset for
fair rental value, when seller had failed to plead offset as an affirmative defense).
96
Tex. Prop. Code Ann. § 5.071 (West).
97
Tex. Prop. Code Ann. § 5.075 (West).
98
Tex. Prop. Code Ann. § 5.068 (West).
99
Tex. Prop. Code Ann. §§ 5.076, 5.079 (West) (effective dates found at 2015 Tex. Sess. Law Serv. ch.
996 [West]).
100
Tex. Prop. Code Ann. § 5.085 (West).
101
Tex. Prop. Code Ann. § 5.085 (West) (requiring, in addition, that that the seller notify the purchaser of
the name,
address, and telephone number of the lienholder, the loan number, the outstanding balance of the loan, the monthly
payments due on the loan, and the due date of those payments).
102
2005 Tex. Sess. Law Serv. ch. 978, § 6 (West). See also Genevieve Hébert Fajardo, “‘Owner Finance!
No Banks
Needed!’ Consumer Protection Analysis of Seller-Financed Home Sales: A Texas Case Study,” Georgetown Journal on
Poverty Law & Policy 20, no. 429 (2013).
103
Tex. Prop. Code Ann. § 5.081 (West).
104
Fajardo, “‘Owner Finance!’”
105
Tex. Prop. Code Ann. § 5.079 (West); 2015 Tex. Sess. Law Serv. ch. 996, § 8 (West) (effective Sept.
1, 2015).
106
Tex. Prop. Code Ann. § 5.079 (West); 2015 Tex. Sess. Law Serv. ch. 996, § 8 (West) (eff. Sept. 1,
2015).
107
Tex. Prop. Code Ann. § 5.077(a) (West)
108
Wash. Rev. Code §§ 61.30.010, 61.30.090
109
Wash. Rev. Code §§ 61.30.030.
110
Wash. Rev. Code §§ 61.30.120.
29