Marie wants to buy Ted's farm.She agrees to pay Ted a monthly payment towards the farm,to take possession and to insure the property.Ted retains the legal title while Marie is making payments.What happens if Marie misses a payment?
A)Ted can increase Marie's monthly payments.
B)Ted can declare a forfeiture and take possession.
C)Ted can exercise his rights under strict foreclosure.
D)Ted must sue Marie for the missed payment.

Question

Quizplus · Accepted Answer

If the buyer defaults on a land contract,the seller usually has the right to declare a forfeiture and take possession of the property.

Marie Wants to Buy Ted's Farm