Financial

An Installment Land Contract is used when you want to sell a property in Ohio and you plan to finance the purchase by allowing the buyer to pay the purchase price over time.

• An installment contract is also called a Contract for Deed, because at the end of the contract when the buyer has paid all of the amounts due under the contract, the seller transfers the title deed to the buyer.
• This type of contract is often used when selling property to a family member.
• You can only use the land contract for selling a property that has a home built on it, or a mobile home which is attached to the property. You can't use this contract to sell bare land.
• If the buyer fails to keep up the payments or does not perform any of its other obligations, the seller can repossess the property and keep all payments made as liquidated damages.
• The template includes a Lead Paint Disclosure, as required by federal laws.
• Intended to be used only in the State of Ohio.

Write up a Residential Mortgage to secure repayment of a home purchase loan with this fully editable template for Ohio mortgage lenders.

• Mortgage payments will be made in regular periodic instalments of blended principal and interest.
• Unpaid interest becomes part of the principal and bears interest at the mortgage rate.
• The mortgagor must pay all taxes and levies assessed against the property.
• The mortgagor must keep the property insured in an amount and to an extent approved by the mortgagee.
• Contains an acceleration upon default provision, which states that if the mortgagor defaults in any of its obligations, the entire amount of the indebtedness will become immediately due and payable, and the lender may foreclose and sell the property.
• Available as a downloadable MS Word template.
• Intended to be used only in the State of Ohio.

If you are selling a real estate property in Oklahoma, you can assist the buyer by carrying part or all of the purchase price with this Contract for Deed.

• A contract for deed (or purchase money mortgage) allows a buyer to pay over time, with the seller carrying the balance until the last payment is made.
• The buyer can take possession and live in the home but doesn't own it. Once the price is paid in full, including any agreed interest, the seller conveys title to the buyer.
• You can only use the land contract for selling a property that has a home on it. You can't use this contract to sell bare land.
• If the buyer defaults under the contract, the seller has the right to repossess the property and keep all payments made as liquidated damages.
• The template includes a Lead Paint Disclosure, as required by federal laws.
• Intended for use only in the State of Oklahoma.

Place a mortgage on a residential property with this Oklahoma fixed rate mortgage form.

• The mortgage form contains both uniform (multistate) covenants and non-uniform covenants for foreclosure, discharge of the mortgage when paid in full, and a waiver of homestead exemption pursuant to Oklahoma law.
• The mortgage secures the lender's position in connection with a loan and a promissory note signed by the borrower.
• This is a downloadable and fully editable legal template for single family dwellings.
• This is a standard legal form template in MS Word format.
• Intended for use in the State of Oklahoma.

Assign your interest in a debt and its underlying security with this Assignment of Debt and Security form for the Province of Ontario.

• The assignor (creditor) holds a security interest over the property and assets of a debtor as security for a loan.
• The assignor assigns and transfers the security interest to another party who is purchasing all of the assignor's interest in the debt and the security.
• This type of assignment is often part of a sale of a business that extends credit to its customers.
• The form is available as a downloadable and fully editable MS Word document.
• Intended to be used only in the Province of Ontario, Canada.

If you're buying a boat or boat motor in Ontario, be sure you get this Bill of Sale signed by the seller.

• You will need the bill of sale to transfer ownership from the seller to you.
• With this form, the seller represents that there are no security registrations registered against the vessel except any that have already been disclosed to you and that you agree to assume.
• The seller doesn't give any warranties with respect to the boat and/or motor.
• Buy the Bill of Sale form, print it and take it with you when you go to pay the seller.
• Intended for use only for transactions in the Province of Ontario, Canada.

Prepare an Equitable Mortgage between the owners of a property and a lender with this template form for Ontario.

• The mortgage is security for a loan from the lender to the borrowers.
• The borrowers agree that if they default in repayment of the debt, they will either register a conventional mortgage against the property or sell the property and use the proceeds to pay off the debt.
• The lender has the option to accelerate the loan upon default by the borrowers.
• This legal form template is available in MS Word format.
• Intended only for use in the Province of Ontario, Canada.

Register a mortgage or other charge against land in the Province of Ontario by filing this Form 2 Charge / Mortgage of Land.

• This is a free fill-in PDF form. Download it, fill it in and file it with the Land Title Office.
• Governed by the Ontario Land Registration Reform Act.
• Available directly from the Province of Ontario website.

This General Assignment of Rents template gives lenders in Ontario a means of additional security for the repayment of a corporate borrower's debt.

Assignment of Rents, Income, and Revenue

Under the terms of this Assignment, the borrower (debtor) assigns to the lender all rents, income, and revenue generated from a mortgaged property. This assignment acts as security for a loan or line of credit that the lender is advancing to the borrower.

Borrower’s Restrictions and Continuing Rights

The borrower agrees not to accept prepayment of the rents. Furthermore, the borrower cannot further assign or encumber the rents or the leases in any way. However, unless the borrower is in default under the Assignment, they may continue to collect the rents as usual.

Default and Lender’s Remedies

If the borrower defaults under the terms of the Assignment, any rents must be paid directly to the lender. At this point, the lender has the right to enter the mortgaged property, collect the rent, enforce the terms of the lease, or maintain the property as necessary.

Additional Information

This template is available in Microsoft Word format and is intended solely for use within the Province of Ontario, Canada.

Ontario lenders, prepare a General Security Agreement with this comprehensive template form.

• The borrower grants the lender a security interest in all of the borrower's present and future personal property including inventory, equipment, accounts and book debts, and all proceeds therefrom.
• The interest is being granted to the lender as security for loan financing, operating lines, or other credit facilities advanced by the lender to the borrower.
• The Security Agreement is governed by the Ontario Personal Property Security Act.
• This document is available as a fully editable MS Word template form.