Welcome to your one-stop resource for a
Contract For Deed Template specially designed for the state of
Maine. This template serves as a comprehensive guide for crafting your own agreement and simplifies the process of drafting a deed. With this template, you can easily create an effective legal document covering essential aspects such as property ownership and purchase agreement details. Furthermore, it caters to all needs related to real estate transactions in Maine. Feel free to download and tailor this contract for deed according to your specific requirements.
Please remember, while it’s an excellent starting point, it’s always recommended to consult with a legal advisor or attorney proficient in real estate law before finalizing any contractual deal.
CONTRACT FOR DEED
THIS CONTRACT FOR DEED (hereinafter “Contract”) made this
____ day of ________, 20______ by and between
______________ of
______________ County, Maine, hereinafter referred to as “Seller” and
______________ of
______________ County, Maine, hereinafter referred to as “Buyer”.
1. SALE AND PURCHASE OF PROPERTY
Seller agrees to sell and Buyer agrees to buy the property located at
______________, Maine, more particularly described as
______________ (hereinafter “Property”).
2. PURCHASE PRICE
The purchase price for the Property is
$______________ to be paid by Buyer as follows:
______________.
3. POSSESSION
Buyer will take possession of the Property on
______________.
4. TAXES AND ASSESSMENTS
All taxes and assessments relating to the Property shall be prorated as of the date of this Contract.
5. INSURANCE
Until final payment is made, Buyer shall keep the Property insured against loss by fire and other hazards.
6. MAINTENANCE AND REPAIR
Buyer agrees to maintain the Property in a good state of repair until final payment is made.
7. DEFAULT
If Buyer fails to comply with any term of this Contract, Seller may, at its option, declare this Contract forfeited and terminated.
8. GOVERNING LAW
This Contract shall be governed by and construed in accordance with the laws of the State of Maine.
9. ENTIRE AGREEMENT
This Contract contains the entire agreement between the parties and supersedes any prior understanding or representation of any kind preceding the date of this Contract.
10. BINDING EFFECT
The covenants and conditions contained in this Contract shall apply to and bind the parties and the heirs, legal representatives, successors and permitted assigns of the parties.
11. SELLER’S REPRESENTATIONS
Seller represents that the Property is free from all liens and encumbrances, except as otherwise provided in this Contract.
12. AMENDMENT
This Contract may be modified or amended if the amendment is made in writing and signed by both parties.
IN WITNESS WHEREOF, the parties have executed this Contract as of the date first above written.
_________________________ _________________________
Seller Name Buyer Name
_________________________ _________________________
Date Date
