Installment Contract For In Philadelphia

State:
Multi-State
County:
Philadelphia
Control #:
US-002WG
Format:
Word; 
Rich Text
Instant download

Description

The Installment Contract for in Philadelphia outlines the terms under which a purchaser agrees to pay for goods or services in installments. Key features include the total purchase price, interest rates specified as simple interest per annum, and detailed payment terms with monthly installments. The form also addresses late fees for missed payments and grants a purchase money security interest in the collateral to secure the payment. In the event of default, the seller has the rights to declare the amounts due, repossess the collateral, and recover collection expenses. The agreement includes disclaimers regarding warranties and emphasizes that it constitutes the entire agreement between the parties. Modifications to the agreement must be in writing, and it is governed by the laws of the state specified in the contract. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need a structured legal document for installment agreements, ensuring clarity in terms and rights of the parties involved.
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FAQ

The Longtime Owner Occupants Program (LOOP) is a Real Estate Tax relief program. You may be eligible if your property assessment increased at least 50% over last year, or at least 75% over the past five years.

What Is the Process for Creating a Tax Payment Plan in Pennsylvania? Anyone seeking a tax payment plan from the Pennsylvania DOR can either call the DOR Collection Unit or visit a district office in person to request a DPP. For individual taxpayers, the DOR Collection Unit number is 717-783-3000.

The OOPA program allows people who own and live in their home to make affordable monthly payments on property taxes that are past due. There is no down payment required and your monthly payments will be based on a percentage of your monthly income. or call (215) 686-6442.

The current Real Estate Tax rate is 1.3998%. The rate hasn't changed since 2016 and will remain the same in 2025. The tax rate is determined by two separate taxes imposed on all real estate in Philadelphia: one by the City and one by the School District.

What is an Owner Occupied Payment Agreement (OOPA)? If you are behind on your real estate taxes, you may be eligible for an Owner Occupied Payment Agreement that will lower your payment for back taxes.

Yes. State law requires Pennsylvania residents with earned income, wages and/or net profits, to file an annual local earned income tax return and supply income and withholding documentation, such as a W-2.

Setting up the payment plan Calculate the total amount due and the payment schedule. Determine the payment amounts, due dates and payment method. Write the agreement, detailing the payment plan. Include the date of the agreement and the parties involved. Get both parties to sign the agreement.

An installment contract is a single contract that is completed by a series of performances –such as payments, performances of a service, or delivery of goods–rather than being performed all at one time. Installment contracts can provide that installments are to be performed by either one or both parties .

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Installment Contract For In Philadelphia