I am pretty sure the capital gains on a land contract sale are recognized pro rata as you receive the payments. Lets say you sell for $100K and get $50K one year and $50K the next. Half the capital gains will be owed in year one the other half in year two. also for anyone reading this.....land contract from a buyers perspective are not a smart thing to do in most cases. that is because as ss55 points out the owner retains title. Lets say Butch you do execute a land contract and then a couple years later crash your car in to a school bus and get sued, the party that sues you may be awarded damages, and if you cant pay them and have to sell the farm to raise cash, the buyer on the land contract is out of luck for all the money he has paid you. I would be happy to sell my land on a land contract, but I would never buy land on a land contract.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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