Forfeiture of Residential Land Contracts in Ohio: The Need for Further Reform of a Reform Statute

The purpose of this article is to examine the problems created by Chapter 5313, Installment Land Contracts (the Act ). In order to do that, the article begins with a background section which more fully describes the type of contractual arrangement under discussion, why people use land contracts, and the economic factors in the current Ohio real estate market which have caused an increase in the use of land contracts and may cause mounting problems with Ohio\u27s land contract statute. The second section describes the common law treatment of land contract defaults and the positions taken by states other than Ohio. The next section discusses Ohio law both before and after passage of the Act, along with the history of the Act. The last section considers the various policies raised in the prior sections and contains proposals for both legislative and judicial action