USA Partial Purchase Agreement for Note and Deed of Trust
Transfer a part interest in a Deed of Trust and underlying promissory note with this Partial Purchase Agreement for Note and Deed of Trust.
- The buyer agrees to purchase the interest without recourse as to the borrower's future financial performance.
- The buyer will be entitled to a specified number of installment payments, following which the interest will revert back to the seller.
- The seller's liability is limited to the seller's residual interest in the Note and Deed of Trust.
- The agreement is conditional upon the buyer obtaining adequate funds to finance the purchase.
- If the seller cancels the agreement prior to closing, the seller must pay a cancellation fee, plus any costs incurred by the buyer.
- The seller indemnifies the buyer against any liability or expense arising from any inaccuracy or breach of any of the seller's representations or warranties.
- This template form can be used by lenders anywhere in the United States.
The USA Partial Purchase Agreement for Note and Deed of Trust is fully editable and can be easily customized to fit your business needs.