North Carolina Quitclaim Deed for Joint Ownership

A Contract for Deed is used when you want to sell a property in North Carolina and you plan to finance the purchase by allowing the buyer to pay the purchase price over time.

• The Contract for Deed is also called an installment agreement, land sale contract, or purchase money mortgage because the seller is basically assuming the role of a mortgage lender.
• The template contains several alternate payment clauses with different methods of repaying the loan plus interest (if any). Use the clause that reflects your agreement with the buyer, and delete the others.
• The buyer can take possession of the property but the seller remains the owner on the title deed until everything owing under the contract is paid.
• If there is already a mortgage on the property, the seller remains responsible for making the payments.

Owner financing is a great option in cases where the buyer cannot get a conventional mortgage loan. To access the digital file, click 'Add to Cart' and go through the checkout.

Secure repayment of a home loan with this Mortgage Note, which is backed by a mortgage against the borrower's property.

• This template is for the State of North Carolina.
• Repayment of the principal and interest will be made in regular equal monthly installments.
• The borrower has the right to prepay all or part of the principal at any time without a penalty or premium being charged.
• If the borrower defaults in making any payment when it becomes due, the entire balance together with interest becomes immediately due and payable at the option of the lender.
• Each of the persons signing the note is jointly and severally obligated and the lender may enforce its rights against each person individually or against them all together.

Pulling together the paperwork for a mortgage loan is so much easier with this downloadable template. Get your copy of the North Carolina Mortgage Note now.