This package contains the following forms:
1.) A Contract for Deed;
2.) Assignment of Contract for Deed by Seller;
3.) Notice of Assignment of Contract for Deed;
4.) Seller's Disclosure of Financing Terms;
5.) Seller's Annual Accounting;
6.) Notice of Default for Past Due Payments;
7.) Final Notice of Default for Past Due Payments;
8.) Notice of Intent to Enforce Forfeiture Proceedings;
9.) Final Notice of Intent to Enforce Forfeiture Proceeding and Request to Vacate;
10.) General Notice of Default; and
11.) Seller's Disclosure of Forfeiture Rights
Purchase this package and save up to 70% over purchasing the forms separately!
A deed package in the context of homeownership refers to a collection of legal documents associated with the transfer of property ownership rights from the seller to the buyer. It ensures that the transaction is properly recorded and establishes the buyer's legal claim to the property. The contents of a typical deed package may vary depending on the specific circumstances and location, but it usually includes the following: 1. Deed: The primary document in the package is the deed itself, which serves as proof of ownership transfer. It contains detailed information about the property, including its legal description, boundaries, and any existing encumbrances or liens. 2. Quitclaim Deed: A quitclaim deed is a type of deed commonly used to transfer property between family members or as part of a divorce settlement. It transfers the interest the granter may have in the property without making any guarantees about the validity or condition of the title. 3. Warranty Deed: This type of deed offers the highest level of protection to the buyer. It ensures that the seller guarantees a clear and marketable title, free from any encumbrances or defects, and agrees to defend and compensate the buyer for any loss incurred due to a title-related issue. 4. Title Search Report: A title search is conducted by a professional title company or attorney to verify the status of the property's title. The title search report is included in the deed package, providing a comprehensive history of ownership, liens, judgments, or other encumbrances that may affect the property's title. 5. Property Survey: A property survey is often included in the deed package to outline the exact dimensions, boundaries, and any easements or encroachments on the property. It ensures that the buyer is aware of the property's legal boundaries and potential limitations on usage. 6. Affidavit of Title: This document is typically provided in the deed package to certify that the seller owns the property and has the right to transfer its ownership to the buyer. It establishes the seller's legal authority to sell the property and confirms that there are no undisclosed claims against the title. 7. Closing Statement: Also known as a settlement statement or HUD-1 statement, the closing statement provides a detailed breakdown of all the financial transactions involved in the purchase, including the purchase price, loan amount, prorated taxes, and closing costs. It ensures transparency and accuracy in financial matters related to the transaction. Different jurisdictions might have additional documents or variances in the naming conventions for the deed package; however, the above-mentioned components are commonly found in most home sale transactions. It is always advisable to seek professional legal guidance to ensure compliance with local laws and regulations when dealing with the deed package for homeownership.
