The election of the vendor to terminate the land installment contract by an action under section 5313.07 or 5313.08 of the Revised Code is an exclusive remedy which bars further action on the contract unless the vendee has paid an amount less than the fair rental value plus deterioration or destruction of the property occasioned by the vendee's use. In such case the vendor may recover the difference between the amount paid by the vendee on the contract and the fair rental value of the property plus an amount for the deterioration or destruction of the property occasioned by the vendee's use.
Ohio Rev. Code Ann. § 5313.10
Terminating land installment contract is exclusive remedy
Applied in 1 court decision — leading case Hunter v. Wagener (In Re Sam A. Tisci, Inc.) (1990)
Most recently applied in Hunter v. Wagener (In Re Sam A. Tisci, Inc.) (August 1990)
Effective: November 25, 1969; Latest Legislation: Senate Bill 156 - 108th General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.