A Contract for Deed is used as owner financing for the purchase of real property. The Seller retains title to the property until an agreed amount is paid. After the agreed amount is paid, the Seller conveys the property to Buyer.
Land Contract Georgia With Cabin
Category:
State:
Georgia
Control #:
GA-00470
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Word;
Rich Text
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How to fill out Georgia Agreement Or Contract For Deed For Sale And Purchase Of Real Estate A/k/a Land Or Executory Contract?
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FAQ
The seller transfers the property deed to the buyer when land contracts are paid in full. They complete the process by filing the necessary legal documents with the County Clerk and Recorder's Office in which the property is situated. The County Clerk will record the new ownership information.
Originally referred to as a bond for title, a contract for deed can be called several other names including a land contract, agreement for deed or installment sales contract. Under Georgia law, all these agreements are treated synonymously.
Parties who only extend financing for the purchase of real estate under land contracts to be licensed. parties who extend financing for the purchase of real estate to be licensed. What is the most prevailing disadvantage of a land contract to the seller? the loan period.
The most significant disadvantage of a land contract is the amount of risk both parties take on.
The company's contracts for deed practice in Georgia is completely legal.