Sure, you could sue them for "waste" after you get possession and tally up the damage, but you are unlikely to ever collect on the judgment.

The buyer gets possession, but the lender holds the title until the contract is satisfied.You can also do a wrap, aka an AITD (all inclusive trust deed).

Possessing a deed doesn't really signify anything.On a car a TITLE is an OWNERSHIP document and (AFAIK) in every state the TITLE must be signed and surrendered when the vehicle is sold or otherwise transferred.

Now the subordinate liens (the second and third) have a right (like everybody else) to bid at the first lien postion's foreclosure auction.Also, if no one bids on a second lien, then the second lien holder will take over title and possession of the property subject to any superior liens.

Just last week the tenant got arrested in front of the house (allegedly on narcotic & gun possession) & now my client really wants them out. 

Currently have five. 3 paying regularly, one about to pay off and one I had to foreclose on that I'm taking possession of in about 30 days.

Write up a simple letter for the tenant to sign (along with you also signing) before a notary that agrees to a "voluntary surrender of possession".

Just for curiosity, I picked 3 of them in miami dade at random and crossed referenced them on the clerk of courts site. 1 was still in the owners name, so it might of just transferred, 1 had foreclosed Jan 2011 and no writ of possession was ever filed. 1 was foreclosed 8/2011 and had a writ that had been issued and rejected with the comment "3rd party entitled to stay".

My understanding of a land contract is when a buyer gets possession and makes installment payments to the seller.

Our local government is selling thousands of properties that it has in its possession.