Notice of forfeiture of contract by seller

Send a forfeiture of contract notice to the buyer to get the payment on time for the land being sold

Are you selling your property, then you need to prepare a Notice of forfeiture of contract by seller. You can find the notice forms in the online or else you can hire an attorney to get this notice prepared without giving any room for legal jargons. This form has to include the names of both the buyers and sellers along with the date on which they went into agreement to buy and sell their land. Most importantly, this has to include the county and state of both the parties. Moreover, this notice has to be recorded in the public records of the state where the land is located. This should include the amount that the buyer has agreed to pay the seller and the promises that were made by the buyer for paying taxes, assessments or impositions along with the year when this agreement was made.

In case, if the purchasers fail to adhere to any of the terms and conditions in the agreement, then the seller has all rights to forfeit the contract. Moreover, the payment that was made by the buyer should also be forfeited to the seller. Also, seller will have all the rights to take over their property and rent it to others. Notice of forfeiture of contract by seller is the mutual agreement made between the buyer and the seller. It is very important to clearly mention the date on which the payment has to be made to the seller. This notice has to be signed by the buyer and seller along with the witnesses. Most importantly, the seller has to give a self-declaration that, in case, if the purchases fails to pay the amount or taxes on the property on the given date, then the payment that was done on it will be forfeited. Moreover, the seller will not repay the amount that was paid by the buyer and he/she possess all the rights to rent that land to the other party.

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Notice of forfeiture of contract by seller.

To _________ of _________ in the County of _________, State of _________.
This declaration made _________[date] provides:
By a certain contract in writing made on _________[date] between _________ of _________ in the County of _________ and State of _________, seller, and _________ of _________, in the County of _________ and State of _________, purchaser, which contract was duly recorded in the _________ office of _________ County, on _________[date], in book _________, on page _________, purchaser, in consideration that seller conveyed to _________ the following described land, situated in the County of _________, State of _________: _________, covenanted and agreed to pay to seller $_____, as follows: _________, and further covenanted to pay all taxes, assessments or impositions that should be legally levied upon the land subsequent to the year _________.
Purchaser further covenanted in the contract, that in case of a failure on h? part to make any of the payments, or any part of them, or to perform any of the covenants agreed by h? in it to be made or performed, then in such case the contract should, at the option of seller, be forfeited and determined, and all payments made on it should be forfeited to seller, and the seller should have the right to reenter and take possession of the land; and it was also mutually agreed between the parties to the contract, that the time of payment should be an essential part of the contract.
Purchaser, has made default in the payment of _________.
Therefore, I, _________, seller, by virtue of the power mentioned in the contract, and by reason of the failure of purchaser to perform as above stated, have elected to declare the contract, and all payments made on it, forfeited and determined, and by these presents do declare my election to consider the contract forfeited and determined; and I declare my right to retain all payments made on the contract, and my right of reentry upon and possession of the land.
In witness, etc.