Cary North Carolina Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract

State:
North Carolina
City:
Cary
Control #:
NC-00470
Format:
Word; 
Rich Text
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Description

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.
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  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
  • Preview Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract

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How to fill out North Carolina Agreement Or Contract For Deed For Sale And Purchase Of Real Estate A/k/a Land Or Executory Contract?

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FAQ

Can I prepare my own deed and have it recorded? North Carolina law allows you to prepare a Deed of Conveyance for any real property to which you have legal title. However, the conveyance of real property is a legal matter that should be given under and with the advise of legal counsel.

The key legal requirements for a document to be a formal deed are: The document must be in writing. The document must make clear that it is intended to be a deed ? known as the face value requirement.The document must be properly executed as a deed.The document must be delivered.

A North Carolina land contract documents the terms of a vacant land purchase and sale agreement between two parties. The buying and selling parties must create this contract through negotiating offers, ultimately reaching mutual terms such as the agreed-upon purchase price and any financial contingencies.

While unrecorded deeds are still enforceable as to the buyer and seller, they don't give the rest of the world notice of the purchase. Therefore, the unrecorded deed runs the risk of being unenforceable should a later purchaser of the same property challenge your deed, especially if they've recorded their deed.

Preparing the Deed If your county government does not provide a deed, you may purchase one from a local stationery store or download one from the Internet. You could even prepare your own, although you'll need to make sure the language is correct. You can also pay an attorney to prepare one for you.

If Your Deed Is Not Recorded, the Property Could Be Sold Out From Under You (and Other Scary Scenarios) In practical terms, failure to have your property deed recorded would mean that, if you ever wanted to sell, refinance your mortgage, or execute a home equity line of credit, you could not do so.

All deeds, contracts or leases, before registration, except those executed prior to January 1, 1870, shall be acknowledged by the grantor, lessor or the person executing the same, or their signature proven on oath by one or more witnesses in the manner prescribed by law, and all deeds executed and registered according

While unrecorded deeds are still enforceable as to the buyer and seller, they don't give the rest of the world notice of the purchase. Therefore, the unrecorded deed runs the risk of being unenforceable should a later purchaser of the same property challenge your deed, especially if they've recorded their deed.

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Cary North Carolina Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract