Installment Contract Agreement With Seller In Utah

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

Description

A retail installment agreement is an agreement signed by the Purchaser involving a finance charge and providing for the sale of goods or services. Federal and some State Laws (Consumer Credit Protection Acts) require the disclosure of what the Purchaser is being charged for the credit he/she is receiving. These disclosures include such things as the amount being financed; finance charges; the annual percentage rate; and the number of payments and when due. However, such disclosures are usually only required when a person regularly extends consumer credit (e.g. more than 25 times in the preceding calendar year).



This form is for a casual seller who does not enter into such transactions on a regular basis. It can also be used in commercial transactions (e.g., credit that is not being extended primarily for personal, family, or household purposes).



The Purchaser in this form grants the Seller a security interest in the collateral being sold. A security interest is an interest in personal property or fixtures that secures payment or performance of an obligation. The Seller requires the Purchaser to secure the obligation with the personal property being purchased so that if the Purchaser does not pay as promised, the Purchaser can take the collateral back, sell it, and apply the proceeds against the unpaid obligation of the Purchaser.

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FAQ

In CA, we recommend putting it verbatim in paragragh 3. E (additional financing terms). We put in on our pre-approval letter. Include it in your agent cover letter.

Writing a Contract Addendum Name the parties to the contract. Indicate the addendum's effective date, using the same date format used in the original contract. Indicate the elements of the original contract that the addendum intends to change. Concisely but clearly describe the desired changes.

More info

This is a legally binding Real Estate Purchase Contract ("REPC"). Utah law requires real estate licensees to use this form.This form is designed to help dealers with their customer financing needs, including compliance with Reg Z. This form is new to the Utah market. You agree to purchase the Property from Seller, subject to the terms and conditions of this Contract. A For Sale By Owner contract Utah must include: 1. The Purchase Price, 2. How to fill out the Real Estate Purchase Contract Template for Utah? 1. Enter buyer and seller details. 2. This written contract delineates the terms and conditions of a sale, encompassing various aspects such as goods, services, pricing, and transaction particulars. This Agreement shall be interpreted in accordance with the laws in the State of Utah.

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Installment Contract Agreement With Seller In Utah