Nevada Installment Purchase and Security Agreement Without Limited Warranties - Horse Equine Forms
What is this form?
The Installment Purchase and Security Agreement Without Limited Warranties is a legal document used in the purchase of a horse. It outlines the terms of the installment payment agreement, including the seller's right to retain a security interest in the horse until the total purchase price is paid. This form differs from other horse purchase agreements by explicitly excluding warranties on the horse, indicating that it is sold "as is." This allows buyers to understand their responsibilities and the risks involved in the purchase clearly.
What’s included in this form
- Parties involved: Names and contact information of both seller and buyer.
- Description of the horse: Information about the horse, including name and pedigree details.
- Purchase price: The total cost of the horse and payment terms.
- As is clause: Acknowledgment that the horse is sold without warranties.
- Security interest: Seller's right to retain ownership until payment is completed.
- Buyer's obligations: Responsibilities regarding the care and maintenance of the horse.
- Default provisions: Terms outlining what happens if the buyer fails to make payments.
When to use this document
This form is ideal for situations where a buyer wants to purchase a horse through an installment agreement while understanding that the horse is sold without any warranties. It is particularly useful for buyers who may not have the full purchase price upfront but plan to make payments over time. Additionally, this form can be used when the seller wants to ensure a financial security interest in the horse until payment is complete.
Who can use this document
- Buyers who are interested in purchasing a horse on installment.
- Sellers willing to sell a horse without providing warranties.
- Individuals or businesses looking to formalize their horse purchase agreement legally.
Instructions for completing this form
- Identify the parties: Enter the names and contact information of the seller and buyer.
- Describe the horse: Provide the horse's name, sire, dam, foaled date, sex, and registration details.
- Specify the purchase price: Fill in the total cost and payment terms.
- Review the agreement: Ensure all parties understand the liability and responsibilities outlined, especially regarding the âas isâ clause.
- Sign the agreement: All parties should sign and date the document to validate it.
Is notarization required?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to provide complete information about the horse.
- Not clearly explaining the payment terms, leading to disputes.
- Overlooking the implications of the "as is" clause.
- Not obtaining necessary insurance coverage as required by the contract.
Benefits of using this form online
- Convenience of downloading and completing the form from anywhere.
- Editability to customize the terms specific to your agreement.
- Affordable option for obtaining legally sound agreements drafted by attorneys.
Legal use & context
- This agreement establishes a legal obligation for the buyer to make installment payments.
- The security interest protects the seller in case of default by the buyer.
- All terms must be complied with to enforce the contract effectively in court.
