Search Bar
Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase
What is the Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase
The Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase is the contract in which there are two parties. The first party agrees to sell to the second party and the second party agrees to buy the land based on the terms and conditions of the contract. In this the second party agrees to pay a total sum which is agreed upon by both the parties. The sum is secured by the use of a real estate mortgage which is taken on the land and the bank details which have the first mortgage are mentioned. It also states that the indebtedness which was to be made to the seller is past the due date and the purchaser has given the deed to the seller in exchange for the payment. In this deed, the real estate which was of the purchaser is now transferred to the seller and by this a foreclosure is done by the seller. In exchange, the seller through the Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase allows the purchaser to repurchase the land within a specified period which has been agreed upon by both parties. This period starts from the signing of the contract.
It also states that the seller will retransfer the deed to the purchaser and in addition to the amount, the purchaser will also pay an interest to the seller and this is to be paid in addition to all the taxes of the property which the seller has paid as well as the interest or the principal that the seller has paid to the bank due to the purchaser’s indebtedness.
Where to download Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase Template?










Sample Template Preview
Contract giving grantor in deed to avoid foreclosure the right to repurchase.
A agrees to sell to B, and B agrees to purchase from A the land described below, and on the terms and conditions to be set forth. The conditions of this contract are such that:
B and h? spouse, have been indebted to A in the sum of $_____;
This indebtedness has been secured by a real estate mortgage on the land described below, which is the land included in this contract;
The _________ Bank has a first mortgage on the land amounting to about $_____;
The indebtedness to A is now past due, and B has given deed this day to the land to A in payment of the indebtedness mentioned;
Such deed and transfer of the real estate from B to A has made unnecessary a foreclosure by A;
In consideration of the execution of the deed, A is granting, by this contract, to B the right to repurchase the land within a period of _________ months from the date of this contract:
Therefore, in consideration of the premises set forth below, A will retransfer, by deed to B, the land included in this contract, if and when, on or before _________[date], B shall pay to A $_____, together with interest at the rate of _____% per annum from _________[date], together with any and all taxes that shall have been paid on the property by A, together with all interest or principal that may have then been paid by A to the _________ Bank on the indebtedness of B to the _________ bank. B to have lease on the premises and remain in the possession of same for year _________[year] for consideration of $_____.
It is further agreed that B gave a bill of sale to the livestock and hay included in the chattel mortgage issued as further security to A and dated _________, which livestock and hay is to be sold at public auction by A within the next _________ days. The proceeds of the sale are to be applied to the payment of taxes and interest due the _________ Bank on their notes and mortgages, and the balance, if any, deducted from the amount to be repaid by B in fulfilling the terms of this contract, and reobtaining title to the land.
The land included in this contract is all of the land owned by B prior to the date of this contract, and is the land this day deeded to A by B and more particularly described as follows: _________.
It is further agreed that A shall have the right to assign and transfer or dispose of its interest in the land subject only to the conditions contained in this contract.
Related posts:
- Agreement for sale of interest of purchaser
- Cash payment plus assumption of existing mortgage
- Contract in Form of Earnest Money or Deposit Receipt-Seller
- Exceptions – Public’s Right in Roads
- Forms Used in Particular Jurisdictions – California Installme
- INTEREST DEFERRED BALANCE
- NEW LEASES
- OPTION FOR BUYER TO OBTAIN LOAN
- PURCHASE BID PERSONAL PROPERTY
- Transfer to Occur after Closing