Welcome to our simple and easy-to-use
Contract For Deed Template (Minnesota). This legal document is designed to help facilitate a smooth and straightforward real estate transaction between a buyer and seller in Minnesota.
The contract outlines the agreement for installment payments made towards the purchase of property.
You are free to download, edit, and tailor this template to suit your specific needs. Remember, having a solid contract is essential in ensuring all parties involved understand their obligations.
CONTRACT FOR DEED
This Contract for Deed (the “Agreement”) is made and entered into this
____ day of
____, 20
____ (the “Effective Date”), by and between
____ (the “Seller”) and
____ (the “Buyer”), collectively referred to as the “Parties.”
PROPERTY
The Seller agrees to sell and the Buyer agrees to purchase the property located at
____, Minnesota (the “Property”).
SALE PRICE
The agreed sale price for the Property is
____ dollars ($
____).
PAYMENT TERMS
The Buyer agrees to pay the Seller the sale price, with a down payment of
____ dollars ($
____) to be paid on the Effective Date, and the remaining balance to be paid in
____ installments of
____ dollars ($
____) each.
INTEREST
The unpaid balance will accrue interest at the rate of
____ percent (
____%) per annum.
TITLE AND DEED
Upon receipt of the final payment, the Seller agrees to deliver to the Buyer a General Warranty Deed, conveying the Property free and clear of all encumbrances, except existing easements and applicable zoning laws.
DEFAULT
If the Buyer defaults in the payment of any installment, the Seller may, at its option, declare the entire balance immediately due and payable.
GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota.
ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the Parties and supersedes all prior oral and written agreements. Any amendment to this Agreement must be in writing and signed by both Parties.
SIGNATURES
The Parties agree to the terms and conditions set forth above as demonstrated by their signatures as follows:
______________________ ______________
SELLER NAME DATE
______________________ ______________
BUYER NAME DATE
For legal advice, consult with an attorney. This form is a basic Contract for Deed and may not fit your specific needs. The Parties are advised to seek appropriate legal counsel.
