Is Wholesaling in Indiana Illegal Without a License?

[Account Closed]

I am running into real estate professionals and buyers in Indiana that are telling me that it is now illegal to wholesale homes in Indiana without a license. Are you all encountering any problems? Do you have any knowledge of this?

Thanks

[Will Barnard]

Originally posted by Ryan ODonnell:

Here's a better question as I believe it pertains directly to what Georgette will or is running into...
Is it legal to "assign" a contract without the notice/option of doing so being stated on the contract?

I think many will be surprised to know that it is in fact legal in most 50 states to assign a contract without any knowledge or option of doing so stated on the contract. The contract is presumably assignable unless stated OTHERWISE.

Why then do we hear so much about "and/or assigns" ? You really don't need it nor need to tell anyone that you are assigning it.

While that is true Ryan, most of us who want to actually assign it would like to have that in the contract as full disclosure and avoid any problems or arguments down the road. The more clearly you disclose, the better. While you are not required to to make your contract assignable (all contracts are assignable unless noted otherwise) it is better to fully address it in the contract in my opinion.