Effective: November 25, 1969
Latest Legislation: Senate Bill 156 - 108th General Assembly
When the vendee of a land installment contract defaults in payment, forfeiture of the interest of the vendee under the contract may be enforced only after the expiration of thirty days from the date of the default. A vendee in default may, prior to the expiration of the thirty-day period, avoid the forfeiture of his interest under the contract by making all payments currently due under the contract and by paying any fees or charges for which he is liable under the contract. If such payments are made within the thirty-day period, forfeiture of the interest of the vendee shall not be enforced.
Structure Ohio Revised Code
Chapter 5313 | Land Installment Contracts
Section 5313.01 | Land Installment Contract Definitions.
Section 5313.02 | Required Provisions of Land Installment Contracts.
Section 5313.03 | Biannual Statements Furnished to Vendee.
Section 5313.04 | Vendee to Enforce Chapter Provisions.
Section 5313.05 | Default of Vendee.
Section 5313.06 | Notice of Forfeiture.
Section 5313.07 | Proceeding for Foreclosure and Judicial Sale.
Section 5313.08 | Action for Forfeiture and Restitution.
Section 5313.09 | Instrument of Cancellation of Land Contract.
Section 5313.10 | Terminating Land Installment Contract Is Exclusive Remedy.