Sell a real estate property to a buyer over time under the terms of this Minnesota Contract for Deed.
- Under the terms of this Contract (also known as a land contract), the seller in essence becomes the mortgage lender by allowing the purchaser to pay off the purchase price over time.
- Once the purchaser has paid all of the remaining balance, plus interest, the seller will transfer ownership of the property to the purchaser.
- If the purchaser fails to make the payments, the seller has the right to take back the property and keep all of the money that the purchaser has paid, as liquidated damages.
By using a Contract for Deed
, a Minnesota property owner can secure the outstanding balance owing under the contract. Download the template immediately after purchase.
Last Updated: 14-April-2016