Contract For Deed Meaning

State:
Multi-State
Control #:
US-02829BG
Format:
Word; 
Rich Text
Instant download

Description Contract For Deed

A Contract for Deed is used as owner financing for the purchase of real property. The Seller retains title to the property until an agreed amount is paid. After the agreed amount is paid, the Seller conveys the property to Buyer.

Contracts for deed are agreements that outline the process for an eventual purchase of property. A contract for deed does not bestow a property title on the intended buyer. Instead, the document establishes the terms under which the buyer will remit payments to the seller, often specifying a start date for this action to take place, as well as an ongoing schedule once payments have commenced.

Free preview Contract For Deed Payoff Statement
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Contract For Deed Meaning