The Grand Rapids Michigan Seller's Disclosure of Forfeiture Rights for Contract for Deed is a legal document that outlines the rights and responsibilities of both the seller and buyer in a real estate transaction using a contract for deed. This disclosure is crucial in ensuring transparency and protecting the interests of both parties involved. In Grand Rapids, Michigan, there are two main types of Seller's Disclosure of Forfeiture Rights for Contract for Deed: 1. Basic Seller's Disclosure: This type of disclosure highlights the general terms and conditions of the contract for deed. It includes detailed information about the property, such as its physical condition, any known defects, and any encumbrances or claims on the property. This disclosure also provides details on the forfeiture rights and consequences that may arise if the buyer fails to fulfill their obligations under the contract. 2. Comprehensive Seller's Disclosure: This type of disclosure offers a more detailed overview of the rights and obligations of both parties. In addition to the basic information included in the basic disclosure, this comprehensive version may cover additional aspects, such as disclosures related to environmental hazards, lead-based paint, zoning restrictions, and any pending legal issues affecting the property. Keywords: — Grand RapidsMichiganga— - Seller's disclosure — Forfeiture right— - Contract for deed - Real estate transaction Transparentnc— - Rights and responsibilities — Physicaconditionio— - Known defects - Encumbrances — Claimpropertyrt— - Obligations - Environmental hazards — Lead-based pain— - Zoning restrictions — Legal issues - Basidisclosureur— - Comprehensive disclosure
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.