Welcome to the page providing a comprehensive
Contract For Deed Template specific to
New York State. This
legal document is a form of agreement used in
real estate transactions, where property ownership is transferred from the seller to the buyer. It’s also often referred to as a
land contract, or a
purchase agreement. Primarily, this contract favors situations involving
seller financing. You’re free to download and edit this deed template according to your own requirements. Get ready to simplify your real estate deeds process today!
CONTRACT FOR DEED
This CONTRACT FOR DEED (hereinafter referred to as the “Agreement”) made and entered into this
______ day of ________, 20______ (the “Effective Date”) between
________ (the “Seller”), a resident of the State of New York, and ________ (the “Buyer”), a resident of the State of New York.
1. PROPERTY
Seller sells and conveys to Buyer the property legally described as ______________________ (the “Property”), together with all rights, easements, and appurtenances to the Property, subject to any restrictions of record.
2. PURCHASE PRICE
The total purchase price (the “Purchase Price”) for the Property is _____ dollars ($_____) and shall be paid by Buyer to Seller as follows:
3. TERMS OF PAYMENT
________________________
4. POSSESSION
Buyer shall have the right to take possession of the Property upon execution of this Agreement.
5. TAXES AND ASSESSMENTS
The Property is subject to all taxes and assessments of the State of New York. Buyer shall be responsible for all taxes and assessments starting from the Effective Date.
6. INSURANCE
Buyer shall keep the Property insured against loss by fire and other hazards included within the term “extended coverage,” for the benefit of Seller.
7. DEFAULT
If Buyer defaults under this Agreement, Seller may declare the entire unpaid principal balance and accrued interest immediately due and payable.
8. REMEDIES ON DEFAULT
Upon default by Buyer, Seller has the right to any and all remedies available under New York law.
9. GOVERNING LAW
This Agreement is to be governed by and construed in accordance with the laws of the State of New York.
10. ENTIRE AGREEMENT
This Agreement 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 Agreement.
11. AMENDMENT
This Agreement may be modified or amended in writing, if the writing is signed by the party obligated under the amendment.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.
Seller:
____________________
Signature
____________________
Printed Name
Buyer:
____________________
Signature
____________________
Printed Name
State of New York, County of _______:
Subscribed and sworn to before me this ______ day of ______, 20______.
Notary Public:
____________________
Signature
____________________
Printed Name
My Commission Expires: ______
