Products tagged with 'alabama mortgage form'

This Contract for Deed form allows the seller of a property in Alabama to assist the buyer by carrying part or all of the purchase price.

• The seller effectively becomes the mortgage lender for the balance of the purchase money.
• When the seller has received payment in full of the principal and interest, title to the property will be transferred over to the buyer.
• The seller has the right to take back the property if the buyer defaults on the payments.
• At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.
• Available in MS Word format.
• This legal form is intended to be used solely within the State of Alabama.