Financed House Lend Formation In Wayne

State:
Multi-State
County:
Wayne
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

The Equity Share Agreement is a legal document designed for parties interested in sharing ownership and profits from a financed house in Wayne. This form outlines the responsibilities of investors, including the purchase price and down payments by each party, as well as financing through a specified institution. Key features include the distribution of proceeds upon the sale of the property, the arrangement for living in the house, and the formation of an equity-sharing venture, emphasizing a collaborative approach to property investment. Instructions for filling out the form include inserting names, addresses, dates, and financial details relevant to the investors' contributions. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form valuable for facilitating property investment arrangements, ensuring all parties have clear expectations and legal protections. Additionally, it provides a framework for resolving disputes through arbitration, which adds to its practicality in real estate transactions.
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FAQ

Sign and date the quitclaim deed in a notary's presence, then file it with the county Register of Deeds Office in the property's county, not the county where you live. Once the deed is filed and recorded, the transfer is deemed legal.

RECORDING REQUIREMENTS Documents executed in Michigan which convey or encumber real estate require a notary's acknowledgment. Documents must be on 8.5" x 11" or 8.5" x 14" paper and must have a 2.5" top margin for the first page, and a minimum 0.5" margin on the other three sides of all pages.

All property deeds, like Warranty Deeds, Quit Claim Deeds and Land Contracts, are recorded with the Wayne County Register of Deeds office ( ) located in the International Center Building, 400 Monroe Street, 7th Floor, Detroit, MI 48226 Phone:(313) 224-5850.

State of Michigan Recording Requirements 1. Signatures must be original; and names must be typed or printed beneath signatures. 2. No discrepancy shall exist between names printed in the notary acknowledgment and as printed beneath signatures.

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Financed House Lend Formation In Wayne