Contract for Sale of Interest in Hotel,
Contract for Sale of Interest in Hotel, 10.0 out of 10 based on 1 rating
In consideration of $_____, $_____ cash, receipt of which is acknowledged, and $_____ represented by equal monthly notes in the amount of $_____ each, payable on of _________, _________, and _________, 19__, respectively, seller sells and conveys to _________ a ½ interest in all the goods, chattels, and effects in and about or used in connection with _________ hotel, together with a ½ interest in lease.
To have and to hold the goods, chattels, and effects to buyer, and buyer’s executors, administrators, and assigns, and to buyer’s own use, for the remainder of term of lease, and to have and to hold all personal property to purchaser.
And seller covenants with and to buyer to be the lawful owner of the goods, chattels, and effects, that they are free and clear from all incumbrances, that seller has a good right to sell the same, and will warrant and defend the same against the lawful claims and demands of all persons.
It is further agreed that buyer gives a lien on all of the personal property to seller to secure the full payment of the purchase money mentioned above.