Nebraska

A Contract for Deed (also called a land contract) is a form of seller financing that gives Nebraskans who can't qualify for regular mortgage financing a chance to purchase a home.

• The buyer will pay an initial downpayment, and then pay off the balance in regular payments.
• This template contains several alternate provisions for payment options, one with a balloon payment at the end.
• There are also alternate provisions for interest or no interest (for instance, if you were carrying the balance for a family member you might choose not to charge interest).
• You can choose the appropriate clauses for payment of taxes, insurance and assessments, based on whether the purchaser or the seller will be paying those expenses.

The Nebraska Contract for Deed allows many more first-time home buyers to get into the property market. You can download the digital template right after purchasing it.

A Deed of Trust is often used instead of a mortgage when securing a loan to purchase real estate (except for agricultural land) in the State of Nebraska.

• Under the Deed of Trust, title is conveyed from the seller to a trustee (such as title company) who then holds the property as security during the term of the mortgage loan.
• If the purchaser defaults under the Deed of Trust or the note, the trustee has the power to sell the property.
• The Deed of Trust contains uniform covenants regarding loan payments, hazard insurance, realty taxes, care and maintenance of the property, protection of the lender's security, and other standard clauses.
• Available in MS Word format.
• Intended to be used only in the State of Nebraska.