Assignment of seller’s lien.

Assignment of seller’s lien

Assignment of seller’s lien is a document that states that, the seller of a particular property can retain the title of that property, until or unless the price of the property is paid fully by the purchaser without any due payments. The seller has the rights to take back the property, if the due payments are not paid by the purchaser or, if the seller loses hope on the purchaser regarding the payment. The seller’s lien may vary according to the location of the real property by state and county. Hence, the seller’s lien is reserved by the state or county to secure the payment of notes.

The seller of the land mentions the full amount that the purchaser has to pay to the seller within a given date as mentioned in the document. Failure to do so, can result in losing of the title of the property of the purchased land back to the seller of that property. This document also mentions the state date, maturities and interests that hold the property and which have to be taken care of, by the purchaser of the title. This document is registered before the signing of closure agreement of the property and is maintained until payment. Hence, it is highly recommended to the purchaser to take at most care about the payments and other fee regarding the property. Hence, after the full payment is made to the seller, the purchaser is capable of holding the rights of the title of the property.

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Assignment of seller’s lien.

State of _________
County of _________
Recitals:
On _________, _________ made, executed and delivered to me several promissory notes payable to the order of _________ as follows: _________[state date, maturities, interest, etc. of notes].
The notes were given in payment of the purchase money for the following described parcel of land situated in _________ County, State of _________(description).
A seller’s lien is reserved and retained on that land to secure the payment of the notes:
Therefore I, _________, for a valuable consideration, have assigned, transferred, and delivered the _________ notes to _________ and in consideration of the premises and $_____ paid to me, the receipt of which is acknowledged, have bargained, sold and conveyed, assigned and set over to _________, my lien on the land, and my right, title, interest, estate, claim, and demand, both legal and equitable, in and to the land and every part of it. In testimony of which witness my hand at _________ this _________[date].