USA Purchase Agreement for Contract for Deed
Sell your interest in a Contract for Deed (installment land contract) with this Partial Purchase Agreement for U.S. real estate properties.
- 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 Contract.
- 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.
Transferring your interest in the Contract for Deed could be a good tax planning move. Download the Purchase Agreement template in MS Word.
Last Updated: 14-Apr-2016