Kansas Contract for Deed
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
A Contract for Deed / Land Contract for use in Kansas.
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Under a Contract for Deed, once the Buyer has made all the payments specified in the agreement and met all other obligations, the Seller must transfer a valid legal title through a Deed. Through a Contract for Deed, the Seller finances the property that is being sold while keeping the title or deed as security. The Buyer will make payments in installments for the duration of the Contract for Deed and is allowed possession of the property, while the Seller will remain liable for any existing mortgage on the property.
Some of the advantages of Contracts for Deed are that the closing costs associated with this type of transaction are usually lower than transactions involving mortgages, banks or other institutional type lenders. This type of Agreement can be useful when other financing may not be even available to Buyer.
These are just some of the important provisions included in this Kansas Contract for Deed:
- Parties: Identifies the Seller and Buyer involved in the transaction;
- Price and Payment: Sets forth the price for the property and when and how payments are to be made;
- Security: Explains that the Contract stands as security for the performance and payments by Buyer.
- AS-IS condition of Property: Buyer will accept the property AS-IS;
- Deed and Evidence of Title: Promise that seller will deliver a general warranty deed after buyer fulfils his or her obligations
- Title: Assurance that title will be free and clear of all encumbrances
- Taxes and Assessments: States that Buyer will pay all taxes and assessments ;
- Risk of Loss and Insurance: Assigns the risk of loss by negligence, fire or other casualty.
- Eminent Domain: Explains rights and obligations in the event the property is taken by eminent domain;
- Prepayment: Explains what happens if the Buyer prepays
- Possession of Property: Buyer shall have possession of the property as long as all contract terms are complied with ;
- Default by Seller of Buyer: Consequences of default by either the Seller or Buyer
- Maintenance of Property: States that Buyer will maintain property;
- Mortgage by Seller: Explains that Seller may place a mortgage on the property ;
- Conveyance by Seller: Seller may convey his or her interest in the property;
- Joint and Several Liability: If there is more than one Buyer, all will be jointly and severally liable;
- Reinstatement after Acceleration: Buyer may reinstate this Contract in the event of default and acceleration according to law;
- Assignment of Sale by Buyer: States that Buyer will not assign his interest in the property without consent of the seller;
- Disputes: Allows the parties to select how to handle disputes;
Protect Your Rights, Your Property and Yourself, with these accurate and easy to use forms.
This form packet prepared by lawyers includes:
- Instructions and Checklist for Kansas Contract for Deed;
- Information about Contract for Deed;
- Contract for Deed
- Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
Kansas Contract for Deed
Product Details
| Product | Kansas Contract for Deed |
| Country | United States |
| Pages | 18 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Contract for Deed |
| Product number | #20614 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A Contract for Deed is a legal agreement where the seller retains the title to the property until the buyer has fulfilled all payment obligations. It allows buyers to make installment payments directly to the seller.
Under a Contract for Deed, the buyer makes payments to the seller over time. Once all payments are made, the seller is obligated to transfer the title to the buyer through a deed.
Some benefits include lower closing costs, the ability to bypass traditional financing, and the opportunity for buyers to occupy the property while making payments.
If the buyer defaults, the seller may have the right to terminate the contract and retain all payments made. The specific consequences of default should be outlined in the contract.
Yes, the seller can place a mortgage on the property, but this should be disclosed to the buyer, as it may affect their rights and obligations under the contract.
Is This Form Right For You?
Use This Form If:
- Individuals who wish to purchase a property but may not qualify for traditional financing can utilize a Contract for Deed to secure their investment. This arrangement allows buyers to make payments directly to the seller, bypassing banks and other lenders.
- Sellers looking to expedite the sale of their property while retaining title until full payment is made can benefit from using a Contract for Deed. This method can attract buyers who may face challenges obtaining conventional loans.
- In situations where a buyer is interested in a property that requires immediate occupancy, a Contract for Deed can facilitate a quicker transaction. This agreement allows the buyer to move in while making installment payments, providing both parties with a flexible arrangement.
- For those dealing with properties that have existing mortgages, a Contract for Deed allows the seller to finance the sale while maintaining responsibility for the mortgage. This can be an advantageous option for sellers who want to sell quickly without paying off their mortgage upfront.
- Buyers who prefer not to deal with high closing costs associated with traditional mortgage financing can opt for a Contract for Deed. This agreement typically involves lower fees, making it a more accessible option for many purchasers.
Do Not Use If:
- – This form is not appropriate for buyers who require immediate full ownership of the property. A Contract for Deed involves installment payments, which means the buyer does not receive full title until all obligations are met.
- – If the seller is unwilling to retain title during the payment period, a Contract for Deed is not suitable. This agreement relies on the seller keeping the title until the buyer completes payment.
- – In situations where the buyer has access to traditional financing options, using a mortgage may be more beneficial. A Contract for Deed is typically used when conventional financing is not available.
- – This form is not advisable for properties with significant legal issues or encumbrances. Buyers should ensure that the title is clear before entering into a Contract for Deed.
- – If the buyer is not prepared to maintain the property or fulfill other obligations outlined in the contract, this form may not be appropriate. Buyers must be willing to take on responsibilities associated with property ownership.
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