Louisiana Bond for Deed

If you are selling a real estate property in Louisiana, you can assist the buyer by carrying part or all of the purchase price with this Bond for Deed (also known as a land contract or purchase money mortgage).

• The Bond for Deed is not a sale contract or a transfer. It's basically an agreement to sell, meaning that the property will be conveyed to the buyer once all the terms and conditions have been fulfilled.
• In essence, the seller takes the place of a mortgage lender by allowing the buyer to pay off the purchase price of the real estate property over time.
• Once the final payment is made, the seller will provide the buyer with an executed warranty deed to transfer ownership of the property to the buyer.
• If the buyer fails to make the payments as set out in the agreement, the seller is entitled to keep all payments made and to take possession of the property. The seller is also entitled to keep all improvements made to the property by the buyer.
• This is a MS Word template form and is fully editable to fit your exact circumstances.
• Intended for use only in the State of Louisiana.