Missouri Contract for Deed
In Missouri, a Contract for Deed (also called a land contract or an installment purchase agreement) is used to sell real estate in circumstances where conventional mortgage financing may not be available to the buyer.
- The seller basically takes over the role of the mortgage lender. The buyer pays the purchase price in installment payments until the principal and interest is paid in full.
- Title to the property remains in the seller's name until the full amount has been paid, at which point the seller transfers and conveys the title to the buyer.
- The seller can foreclose on the property if the buyer defaults in making payments.
- This is a downloadable legal form in MS Word format.
- Intended for use only in the State of Missouri.
Last Updated: 04-May-2021