Welcome to our page featuring a comprehensive
Contract For Deed Template specific to
Arkansas. This legal document is instrumental in guiding you through the process of buying and selling property in this state. Crafted by legal experts, the template provides an easy-to-follow guide for drafting a robust
land contract. It enhances clarity in property agreement and aids a seamless ownership transfer. Whether you are new or seasoned in real estate, navigating your contract agreement becomes simpler with our handcrafted template. Feel free to download, edit and use it according to your unique requirements.
Remember, making use of our contract for deed template ensures your Arkansas real estate transactions stay within the confines of legality while significantly simplifying the entire process.
CONTRACT FOR DEED
This Contract for Deed (“Agreement”) is made effective on this
________ day of
________, 20
__, by and between
________ (the “Seller”) of
________, Arkansas and
________ (the “Buyer”) of
________, Arkansas.
PROPERTY
The Seller shall sell and the Buyer shall purchase the property legally described as:
________
The property includes all improvements and fixtures, unless explicitly excluded in this Agreement.
TERMS OF SALE
The purchase price of the property is
$________. The Buyer shall pay the Seller on
________ basis, starting on
________ and continuing until the purchase price is paid in full.
INTEREST
The unpaid balance of the purchase price shall accrue interest at the rate of
________ percent per annum.
DEFAULT
If the Buyer fails to comply with the terms of this Agreement, the Seller may take legal action to enforce the Agreement including, if applicable, seeking specific performance.
POSSESSION
The Buyer will take possession of the property on
________.
REPAIR AND MAINTENANCE
The Buyer will keep the property in good repair and will not commit waste, nor allow anyone else to do so.
INSURANCE
The Buyer will maintain sufficient insurance to protect the property from loss.
LEGAL FEES
If any legal action is necessary to enforce this Agreement, the prevailing party shall be entitled to reasonable attorney’s fees in addition to any other relief to which that party may be entitled.
GOVERNING LAW
This Agreement shall be governed by and interpreted in accordance with the laws of the State of Arkansas.
ENTIRE AGREEMENT
This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written.
SIGNATURES
The parties have executed this Agreement as of the date first written above.
________ – Seller
_________________________ Date:
________
________ – Buyer
_________________________ Date:
________
This Contract for Deed is acknowledged before me on this
________ day of
________, 20
__, by
________, the Seller, and
________, the Buyer.
_________________________
Notary Public
My Commission Expires:
________
