US Legal Forms
North Carolina Contract for Deed Package

North Carolina Contract for Deed Package

Category:

Real Estate - Contract for Deed

State:

North Carolina

Control #:

NC-P023-PKG

Format:

Instant download

Description

This package contains essential legal documents that are used for owner financing of real estate by using a Contract for Deed. The documents in this package are State Specific and include the following:

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!

North Carolina Lease Purchase Agreements Package

Owner Financing Contract for Sale of Land

Contract for Deed Questionnaire

Contract for Sale of Real Estate

Contract for Sale or Real Estate Property

Custom Software Development Agreement

Financial Package

Cease and Desist Letter for Libelous or Sl...

Replacement Window Estimate

Developer-Oriented Distributor Agreement

Writ of Ejectment / Eviction

Term Assignment - Long Form

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Contract For Deed Package

Are you going to buy or sell property using a Contract for Deed? Simplify the process with US Legal Forms. Just answer a few questions to get a professionally drafted package of state-specific forms.

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FAQ

It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances.If a mortgage exists, it's best to work with the lender to make sure everyone on the title is protected.

A contract for deed is a legal agreement for the sale of property in which a buyer takes possession and makes payments directly to the seller, but the seller holds the title until the full payment is made.

The buyer must record the contract for deed with the county recorder where the land is located within four months after the contract is signed. Contracts for deed must provide the legal name of the buyer and the buyer's address.

Generally, contract for deed sellers use IRS Form 6252 to report installment sales in the year in which they take place. You also use Form 6252 during each year you receive income from your contract for deed.

Yes you can. This is called a transfer of equity but you will need the permission of your lender. If you are not married or in a civil partnership you may wish to consider creating a deed of trust and a living together agreement which we can explain to you.

The IRS does allow you to deduct the interest portion of the payments you make under a contract for deed from your income taxes if you itemize deductions. You can also deduct any real estate taxes you pay, just as with a mortgage.

On a land contract, the buyer is responsible for property taxes, insurance and mortgage interest, although these will usually be paid through the seller. However, the buyer does get to deduct them from his or her taxes; the seller cannot.

Purchase price. Down payment. Interest rate. Number of monthly installments. Responsibilities of the buyer and seller. Legal remedies for the seller if the buyer does not make payments.

Adding someone to your house deed requires the filing of a legal form known as a quitclaim deed. When executed and notarized, the quitclaim deed legally overrides the current deed to your home. By filing the quitclaim deed, you can add someone to the title of your home, in effect transferring a share of ownership.

Discovery - Request for Supplementation of Responses

Reply Brief of Appellant - Sheltering a Fixed Sum of Appellant's Pension Fund

Discovery - Request for Inspection and Copying of Documents

Instructions for Release of Land from Lien regarding Dissolution

Discovery - Request for Inspection and Production of Documents

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