Question re: CFD
If you sell a property via CFD your buyers have an equitable interest in the property. (right?) Let's say at some point down the road the buyers stop paying you, does the process to remove them from the property follow foreclosure rules, or tenant evicition rules.
I want to become familiar with these laws in my state so that I have all the bases covered.
That will depend on the state in which you live in. I have been doing some research in Michigan and there are two ways enforce the contract. One would be through forfeiture. Basically you want to get the property back. Now the person still has a redemption period which will be different in each state. Here it depends on the amount of money the person has paid into the land contract. If he has paid less than 50% then the redemption period is 90 days. More than 50% then 180 days.
You can also go to foreclosure. Here it is a more costly and timely approach. You will have the state sell your property and hope that it will cover the amount of the land contract. If it does not then you can go for a deficiency. But it will probably be hard to collect on it. There are rules to each but this gives you a basic understanding. Of course this information is what I gathered for Michigan. Hope this helps.
Tom