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License Agreement for Use of Land for Sports Playing Field

Agreement Use Land Sample With Balloon Payment

Category:

Licenses - Recreation

State:

Multi-State

Control #:

US-01723BG

Format:

Instant download

Description

The Agreement Use Land Sample with Balloon Payment is a legal document that facilitates the use of real property by a Licensee granted by a Licensor. Key features include the grant of license for specific activities, maintenance requirements, and an indemnification clause that protects the Licensor from liabilities. This Agreement is particularly useful for individuals or entities looking to use land for recreational purposes, without the obligation of payment. Filling instructions require users to clearly identify parties involved, the purpose of use, and any necessary legal descriptions of the property. Users must ensure that modifications are documented in writing and that all notices are sent via certified mail. The form is relevant for attorneys drafting agreements for clients, partners negotiating land use, owners of properties allowing third-party access, associates and paralegals preparing documentation, and legal assistants aiding in form preparation. It serves as a protective measure for all parties involved while allowing for specified uses of the land without financial transactions.

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How to fill out License Agreement For Use Of Land For Sports Playing Field?

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FAQ

When parties enter into an Installment Land Contract, the buyer typically takes possession of the property and assumes the rights and responsibilities of ownership, but the deed is not delivered to the buyer until the contract price has been paid in full.

A seller needs to go through circuit court to foreclose on a home. Unlike mortgage foreclosures, a seller in a land contract cannot foreclose by advertisement. They must go through the courts. To learn more about judicial (court) foreclosures, read Foreclosure and Eviction for Homeowners.

Writing a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...

To calculate the interest payment, multiply the amount financed by the interest rate, and divide the result by the number of installments in a year. For example, the monthly interest payment on a $200,000 land contract home with an 8% interest rate after a 10% down payment would be $1,200.

The seller on a land contract can enjoy a regular cash flow without the headaches of managing rental property. The seller may be able to realize a greater overall profit from the sale by earning interest. The seller may charge interest up to 11%. (And, in some cases an even higher rate of interest.)