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Buyer's Request for Accounting from Seller under Contract for Deed - Michigan

Buyer's Request for Accounting from Seller under Contract for Deed - Michigan 2026

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The document is a formal request from a purchaser to a seller for an accounting of payments made under a Contract for Deed. It seeks detailed information on payments, interest, fees, taxes, and the remaining balance due, specifically for tax purposes.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date at the top of the form. This is essential for record-keeping.
Fill in the Seller’s Name and Address. Ensure accuracy as this information is crucial for communication.
In the 'Re:' section, address your letter appropriately, using a formal greeting such as 'Dear [Seller's Name]'.
Specify the date of the Contract for Deed and provide the property address clearly to avoid any confusion.
Request an accounting by stating you need details on payments made, including interest, fees, costs, taxes, and insurance paid since the contract was initiated.
Indicate where you would like this information mailed by filling in your address in the designated space.
Finally, sign the document and print your name below to authenticate your request.

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What are two disadvantages of a contract for deed?

It is not uncommon for land contracts to go unrecorded. For several reasons, the buyer or seller may decide that the contract is not to be recorded in the register of deeds. That does not make the contract invalid, but it does increase exposure to undesirable side effects.

What are the rules of a land contract?

With a traditional land contract, the seller keeps the title until the buyer pays off the contract. If its a wrap-around land contract, the seller continues to make existing mortgage payments while collecting monthly payments from the buyer; however, the buyer gets the deed right away.

What makes a land contract legal in Michigan?

To be enforceable, the contract must be in writing. Land contracts are similar to a mortgage or a loan for property, but rather than borrowing money from a lender or bank, the buyer of the property typically makes monthly payments to the seller until the purchase price is paid in full.

Do land contracts need to be recorded?

Recording requirements protect buyers by making public and traceable their involvement and interests in the property. Around a dozen states require land contracts to be publicly recorded.

Does a land contract have to be recorded in Michigan?

Just as there are benefits, there are also some potential downsides to a contract for deed: The seller keeps the legal title to the property until the buyer pays the contract price in full. If the buyer defaults on the contract, he or she can lose all money paid.

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