Can I sell or transfer the installment purchase agreement?
The agreement prohibits sale or transfer of the installment purchase agreement (IPA) for 1 year. After that time, you are allowed to sell it or give it away, but such a sale or gift may have tax ramifications.

Any transfer or sale of the IPA must be of the whole document and all of your rights in it. The county will not divide either interest or principal payments among multiple recipients. One person only is entitled to payments from the county. If you sell or otherwise transfer the IPA, you must follow the procedures set out in the IPA for notifying the county and the paying agent so that they know who is entitled to receive payments.

You can continue to own the property even if someone else is entitled to payments under the IPA.

Show All Answers

1. What is an installment purchase agreement (IPA)?
2. How does the sale of my easement change with an installment purchase agreement?
3. Why is the county using installment purchase agreements for easement purchases?
4. How can structuring payment through an installment purchase agreement benefit me?
5. Why is payment being deferred as late as 2036?
6. What is the interest rate that I will earn under the installment purchase agreement?
7. If payment for my easement is deferred, does this mean that the easement will not be effective until 2036?
8. What happens if I sell the property before 2036?
9. Can I sell or transfer the installment purchase agreement?
10. If my property increases in value between the time that I sign the easement and the year 2036, will the county pay me more for my easement?
11. What happens if I am willing to sell but only want to sell for a cash payment?
12. Will structuring payment of the purchase price through the installment purchase agreement cost me money?
13. Can I use the county's advisers to assist me in selling my easement to the county with an installment purchase agreement?
14. How do I know that the county will have enough money to pay me in the year 2036, and what happens if the county (or its paying agent) fails to make an interest payment to me?
15. How can I find out more about installment purchase agreements?