Fill Out Legal Kansas Contract For Deed Forms For Free

Recording ? A quitclaim deed must be filed with the County Recorder's Office where the real estate is located. Go to your County Website to locate the office nearest you. Signing (§ 58-2205) ? A quitclaim deed is required to be authorized with a notary public present.

A contract for deed, also known as a ?bond for deed,? ?land contract,? or ?installment land contract,? is a transaction in which the seller finances the sale of his or her own property. In a contract for deed sale, the buyer agrees to pay the purchase price of the property in monthly installments.

In a contract for deed, the purchase of property is financed by the seller rather than a third-party lender such as a commercial bank or credit union. The arrangement can benefit buyers and sellers by extending credit to homebuyers who would not otherwise qualify for a loan.

The following should be in a contract for deed: Purchase price. Interest rate. Down payment. Number of monthly installments. Buyer and seller information. Party responsibilities. Legal remedies in the event of default.

If you're the buyer in a contract for deed arrangement, you need to be aware of the following risks. Property maintenance. One contract for deed drawback is the uncertainty over who's responsible for what. ... No foreclosure protection. ... Balloon payment. ... Seller retains title. ... Less consumer protection.

Ing to § 58-2205, -2209, -2211 of State Law, the deed must be signed by both parties to the transaction. In addition, the form must be notarized. Once drafted and certified, the document must be recorded as soon as possible. This is to protect both parties and to ensure that the state is aware of property rights.