Forms Used in Particular Jurisdictions – California Installme
byadminonOctober 19, 2011
Form for a Particular Jurisdiction
While some forms are acceptable in all jurisdictions, some forms are acceptable in particular jurisdictions only. Here is the list of some of the points that are part of Forms Used in Particular Jurisdictions – California Installme.
The agreement begins with the declaration of the date of the agreement as well as the name of the persons between whom the deed is occurring. Address of the property along with its selling price is also mentioned in earlier parts of the contract. The amount of money that the buyer will pay at the time of signing the agreement and also the the amount which will be paid in instalments, till what date and what interest rate is also mentioned in the contract.
Along with this mandatory declaration there are several other rules and regulations among which the first one is about delivering the possession to the purchaser once the agreement is executed and delivered.
The next point is about the duty of the buyer to pay all the taxes and assessments right from the date of execution of the contract unless stated otherwise in the contract.
In one of the points, it is clearly mentioned that once the seller receives the decided amount of payment, he will have to execute a grant deed in favour of the buyer for the property mentioned in the agreement.
If the buyer fails to give his or her instalments on time, the seller will have the right to retain the money paid to him as part of the agreement.
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