Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract - Massachusetts: Fill out & sign online

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What kind of contract is deed of sale?

Contract for deed is a contract for the sale of land which provides that the buyer will acquire possession of the land immediately and pay the purchase price in installments over a period of time, but the seller will retain legal title until all payments are made.

Is a deed always a contract?

At its simplest, a deed is a promise that is not supported by consideration. As such, the intention of the parties to be bound by the deed cannot be inferred like it would be if the document were a contract. What is a deed? A deed is a special type of binding promise or commitment to do something.

What distinguishes a sale from a contract to sell?

In a sales contract, the execution of the contract takes place at a later date, that is, when the time has elapsed or when the necessary conditions are met. Once the contract is concluded, it becomes a valid sale.

How do land contracts work in Kentucky?

A Kentucky land contract establishes the terms and conditions of a vacant land purchase agreement between two parties. The terms stipulated on the contract range from financial provisions, such as the agreed-upon purchase price and any monetary contingencies, to the lands legal descriptors as they appear on the deed.

Who prepares the purchase and sale agreement in Massachusetts?

1. The sellers agent or attorney will draft the Purchase and Sale Agreement (PS). This is the more binding legal document that is the official contract to purchase the home. It is a cookie cutter type standard document.

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