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1.2.10 Real Estate Installment Sales

Real estate installment sales laws in many states provide special consumer protections if the purchaser defaults. Statutory or decisional law may treat real estate installment sales agreements as security agreements in some circumstances. State foreclosure law would then apply. See §§ 12.3.3, 12.4, infra. Advocates should consider the following:

  • Are there equitable defenses to protect against forfeiture of home equity created under an installment sale agreement, under state common law, or by state statute? See § 12.4, infra.
  • Are bankruptcy precedents available to obtain treatment of the debt created by the installment sale contract as a secured claim in chapter 13? See § 12.5, infra.