Create Legal Maine Contract For Deed Forms For Free

Valid Contracts A real estate contract must meet four essential criteria to be considered valid: First, it must include a valid home purchase agreement in writing. Second, the contract must contain an offer from the buyer and an acceptance from the seller. Third, the purpose of the contract must be legal.

The only way to add or remove a name on a deed is to have a new deed recorded. Once a document is recorded, it cannot be altered. In order to protect your legal interests, we strongly suggest that you contact an attorney to have this done for you.

Maine law recognizes several types of deeds for transferring real estate. A Maine quitclaim deed without covenant is a type of deed that transfers all of the signer's rights in Maine real estate with no warranty of title. The new owner receives the entire interest the transferor can legally transfer.

The fee for recording a document is $22 for the first page -this includes a $3 surcharge (Maine Government & municipalities are exempt from surcharge, so the first page is $19) and $2 for each additional page.

Include the agreed upon purchase price, down payment amount, interest rate and payment details. You should also outline the payment schedule and how and where payments are to be made. Besides monthly payments, you'll want to define if they will have to pay a final lump sum or balloon payment at the end of the term.

A tax of $2.20 per $500 in value (rounded up) imposed upon the sale, granting or transfer of real estate and any interest therein. The transfer tax is equally divided between the buyer and the seller, unless exempt pursuant to Title 36, §4641-C.