This form is a generic sample of a receipt for an installment payment for an owner financed real estate sale/purchase.
A Kansas Receipt for Payment Made on Real Estate Promissory Note is a crucial legal document used to acknowledge and record the receipt of payment made towards a real estate promissory note in the state of Kansas. This receipt serves as proof of payment and ensures transparency and accountability between the parties involved in the transaction. The Kansas Receipt for Payment Made on Real Estate Promissory Note typically includes the following key details: 1. Date: The date when the payment was made. 2. Parties Involved: The names and contact information of both the payee (the person making the payment) and the mayor (the person receiving the payment). 3. Real Estate Promissory Note Details: Mention the specific details of the real estate promissory note, such as the date the note was created, the loan amount, interest rate, and repayment terms. 4. Payment Information: Clearly state the amount paid, including the payment method (cash, check, wire transfer, etc.), check number (if applicable), and any additional information related to the payment. 5. Receipt Number: Assign a unique identification number to the receipt for better record-keeping purposes. 6. Signatures: Both the payee and the mayor must sign the receipt to validate its authenticity. Different types of Kansas Receipts for Payment Made on Real Estate Promissory Note might exist depending on the specific circumstances of the transaction. These can include: 1. Partial Payment Receipt: This is issued when a payment less than the full amount due on the real estate promissory note has been made. It details the partial payment amount and updates the remaining outstanding balance. 2. Lump-Sum Payment Receipt: Used when a borrower completes the full payment of a real estate promissory note in one installment, this receipt confirms the payment in its entirety and releases the borrower from further obligations. 3. Installment Payment Receipt: In cases where the real estate promissory note requires payments in multiple installments, this receipt acknowledges each installment payment made towards the outstanding balance, providing a clear record of the payments made. It's important to consult with a legal professional or use a template provided by an attorney to ensure that the Kansas Receipt for Payment Made on Real Estate Promissory Note adheres to the state's specific laws and regulations.
