Contract For Deed Template (South Dakota) FREE To Download, Edit & Use

Welcome to our Contract For Deed Template (South Dakota) page. This is a comprehensive template designed to capture all necessary terms for a legally sound real estate transaction. As part of our commitment to facilitate property ownership, this agreement serves as an important legal document between the buyer and seller, outlining their financing arrangement. Whether you’re in Rapid City or Sioux Falls, this finely-tuned South Dakota contract for deed template is ready for you to download and edit according to your specific needs.

CONTRACT FOR DEED

THIS CONTRACT FOR DEED (the “Contract”) made and entered into this [INSERT DATE] (the “Execution Date”), BETWEEN: [SELLER’S LEGAL NAME] of [SELLER’S ADDRESS] (the “Seller”), AND: [BUYER’S LEGAL NAME] of [BUYER’S ADDRESS] (the “Buyer”), Whereas the Seller is the registered owner of the property and the Buyer wishes to purchase the property.

THE PROPERTY

1. The Seller agrees to sell, and the Buyer agrees to buy the property described as: [LEGAL DESCRIPTION OF THE PROPERTY] (the “Property”).

PURCHASE PRICE

2. The Buyer will pay to the Seller the purchase price of [$AMOUNT] (the “Purchase Price”).

PAYMENT TERMS

3. The Buyer will pay the Purchase Price to the Seller, with interest thereon, in consecutive equal installments of [AMOUNT] each, payable on the first day of each [MONTH] until the Purchase Price has been fully paid.

TRANSFER OF TITLE AND POSSESSION

4. Upon receipt of the final payment, the Seller agrees to deliver to the Buyer a good and sufficient deed to the Property.

DEFAULT BY BUYER

5. If the Buyer defaults in the payment of the Purchase Price or any part thereof, or fails to comply with any other terms and conditions of this Contract, the Seller may, at the Seller’s option, declare the entire balance then owing on the Purchase Price immediately due and payable.

GOVERNING LAW

6. This Contract will be construed in accordance with and governed by the laws of the State of South Dakota.

TIME OF THE ESSENCE

7. Time is of the essence in this Contract.

ENTIRE AGREEMENT

8. This Contract constitutes the entire agreement between the parties.

EXECUTION

SELLER: ____________________ [SELLER’S LEGAL NAME] BUYER: ____________________ [BUYER’S LEGAL NAME]

NOTARY ACKNOWLEDGEMENT

State of South Dakota, County of ______, on this day of _______, 20__, before me, a notary public, the undersigned officer, personally appeared _______________, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. ____________________ Notary Public My Commission Expires: _______ This is not a substitute for legal advice. An attorney must be consulted.

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