When does forfeiture typically occur in relation to a land contract?

In the context of a land contract, forfeiture typically occurs when the vendor (the seller) takes specific actions due to the buyer's failure to comply with the terms of the contract, particularly in instances of non-payment. This means that if the buyer fails to make payments as agreed upon in the contract, the vendor may initiate forfeiture proceedings, which allow them to reclaim the property.

This outcome is relevant in situations where the contract may be relatively short-term, or payments are significantly below the expected level, prompting the vendor to take more immediate remedial action instead of waiting for a longer duration of non-payment. In land contracts, the specific conditions leading to forfeiture often hinge on the contractual agreement between the vendor and the purchaser, and they allow the vendor to enforce their rights without having to wait for a substantial period or the contract's expiration.

Other options do not align with the typical circumstances surrounding forfeiture. For example, waiting ten years before action can seem excessively lenient, while transfer of ownership generally refers to a change in title rather than the enforcement of contract terms. The concept of expiration also typically applies to the contract’s time frame rather than the actions taken by the vendor in response to payment issues.