Act of Sale and Mortgage

Make the act of sale form valid by getting it attested by a notary public

Are you planning to prepare Act of Sale and Mortgage form? Then, you can either download from the internet or hire a lawyer to prepare this form without any legal jargons. Generally, hiring a lawyer to prepare this act of sale and mortgage form helps you get the form prepared in a professional way. This form will be valid when submitted to the court in the future. This kind of form is alike to that of a warranty deed. This form ensures that the property is transferred with the legal warranty to the buyer without any kind of title risks from the previous owners and vendors. This agreement assures to provide protection to the buyer from the title risks and encumbrances that they may face in the near future. While transferring the property to the buyer, the seller along with the witness has to sign the agreement.

Ideally, it is important to give a brief description about the property in the form. Most importantly, if the sold property is transferred to the heirs and assigns of the buyer, then also the seller assures buyer protection from title risks. The seller will compensate for any unsettled debts and risk on the property. Most importantly, this agreement also include, the amount that was paid by the vendee to the vendor for buying the property in detail and the balance amount to be paid is also written in the agreement. However, the remaining amount has to be paid with interest to the vendor. This agreement has to be signed by both the vendee and vendor along with the witness to make it legally binding.

Act Of Sale And Mortgage

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Sample Template Preview

Act of sale and mortgage.

(Preamble same as in warranty deed) who declared to me, notary, that he does by these presents, grant, bargain, sell, convey, transfer, assign, set over, abandon and deliver, with all legal warranties and with full substitution and subrogation in and to all the rights and actions of warranty which he has or may have against all preceding owners and vendors, unto _________[name, address, domicile and marital status of vendee], here present, accepting and purchasing for himself, his heirs and assigns, and acknowledging due delivery and possession thereof, all and singular the following described property, to wit: _________[description of property].
To have and to hold the above described property unto the said purchaser, his heirs and assigns forever.
This sale is made and accepted for and in consideration of the price and sum of _________ dollars, in part payment whereof said vendee has paid in ready and current money the sum of _________ dollars to the said vendor, who hereby acknowledges the receipt thereof and grants full acquittance and discharge therefor, and for the balance of said purchase price, to-wit: the sum of _________ dollars, the said purchaser has furnished _________ promissory note _________, each for the sum of _________, dated _________, and payable _________, bearing interest at the rate of _________ per cent per annum from _________ until paid, which said note _________ after having been paraphed “Ne Varietur” by me Notary, to be identified herewith _________ delivered to the said vendor, who hereby acknowledges the receipt thereof.