Advice Pool - Real Estate

Most of the disadvantages of land contracts for buyers of property stem from the fact that the vendee

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

does not receive the deed to the property at closing. The vendee obtains equitable title, bu

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

the vendor (seller) retains legal title. This situation usually exists until the land contrac

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

is paid in full. Mortgage loan lenders are highly (excessively??) regulated, mostly to protect buyer

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

/mortgagors. Land contract vendors are not.

A individual seller can be more demanding than a lender.

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

The vendor sometimes feels she has the right to inspect your property. No seller has this righ

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

t, unless you specifically have granted it in the land contract. A mortgage loan company will neve

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

do this.

Some installment loan contracts give the seller an option of making the entire balance

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

due and payable if only ONE payment is missed or is late. Be certain that your contract doesn'

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

have a clause like this. You wouldn't want to lose your home simply because you forget and are late

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

aking a payment. Repossession procedures are much more strictly regulated for mortgage loans from a c

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ommercial lender than for an individual land contract vendor.

***I again stress that I am not a l

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

wyer, am not pretending to give legal advice, but am just expressing my opinions.***

The vendor

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ight not wish to allow prepayment. While prepayment penalties are rarely found in mortgage loans anym

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

re, a seller may wish to prevent you from paying off the contract because s/he wants to keep the inco

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

e stream. Be sure that your land contract does not contain a clause that prevents you from paying the

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

balance in full before the contract expires - you may want to sell, or refinance your contract sale

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ith a loan from a lender.

If properly prepared, a land contract has advantages for both the seller a

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

d for you. However, a poorly drafted contract can result in difficulties that can seem neverending. Y

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

u definitely should retain a good real estate lawyer if you are buying your home with a land contract

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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