Contract For Deed Template (New Mexico) FREE To Download, Edit & Use

Welcome to our page where you can access a Contract For Deed Template relevant for New Mexico. This fundamental legal document serves as an agreement that aids in transferring property ownership using an installment sales agreement. It is a highly significant component in the real estate industry. With our easy-to-use template, you can gain insights into the content and structure of such a contract and tailor it to your specific needs. Feel free to download, personalize, and utilize this deed template for your property transactions in New Mexico.

Your journey towards understanding and creating a reliable Contract for Deed starts here!

CONTRACT FOR DEED (NEW MEXICO)

THIS CONTRACT FOR DEED (the “Contract”) made this **day** of **month**, **year** by and between **Seller’s Full Legal Name** (hereinafter “Seller”), and **Buyer’s Full Legal Name** (hereinafter “Buyer”).

1. AGREEMENT TO SELL

Seller agrees to sell, and Buyer agrees to buy the property located at **full property address**, and legally described as **legal description of the property** (the “Property”).

2. PURCHASE PRICE

The purchase price for the Property is **purchase price in words (purchase price in numbers)** Dollars, payable as follows: **terms of payment**.

3. INTEREST

Interest shall accrue on the unpaid balance of the purchase price at the rate of **interest rate** percent per annum.

4. TAXES AND ASSESSMENTS

All taxes and assessments levied against the Property which are due and payable shall be paid by the Buyer.

5. INSURANCE

Buyer will keep the Property insured against loss by fire and other risks included in standard extended coverage endorsements for the benefit of the Seller.

6. MAINTENANCE AND REPAIR

Buyer will keep the Property in good repair and will not commit waste, nor alter, without the Seller’s written consent, the Property.

7. INDEMNIFICATION OF SELLER

Buyer will indemnify and hold Seller harmless from any liability for injuries on the Property.

8. DEFAULT

If Buyer defaults in the performance of this Contract, the Seller may terminate this Contract upon providing written notice to the Buyer.

9. GOVERNING LAW

This Contract shall be governed by and construed in accordance with the laws of the state of New Mexico.

10. ENTIRE AGREEMENT

This Contract contains the entire agreement of the parties and there are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Contract. EXECUTED as of the day and year first above written.

SELLER

_____________________________ **Seller’s Full Legal Name**

BUYER

_____________________________ **Buyer’s Full Legal Name**

WITNESSES

_____________________________ **Witness 1 Full Legal Name** _____________________________ **Witness 2 Full Legal Name** Note: This is a basic Contract for Deed example and does not constitute legal advice. Parties to such transactions should consult an attorney or real estate professional regarding their specific situation.

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