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The Land Contract Michigan form serves as a crucial legal document for real estate transactions within the state. It outlines the agreement between a seller and a buyer, detailing the terms under which property is sold. This form typically includes essential information such as the names and addresses of both parties, the description of the property involved, and the tax parcel number. It also provides a framework for recording the existence of the land contract, ensuring that the agreement is legally recognized. By signing the Memorandum of Land Contract, both parties acknowledge their commitment to the terms outlined in the original land contract. This document is vital for protecting the interests of both the buyer and seller, as it establishes a clear record of the transaction and the obligations each party must fulfill. Additionally, the form requires notarization to validate the signatures, adding another layer of security to the agreement. Understanding the components of this form is essential for anyone involved in a land contract in Michigan.

Form Example

MEMORANDUM OF LAND CONTRACT

File No.:

Drafted by:

,,

When recorded return to:

,,

THI S MEMORANDUM OF LAND CONTRACT entered into this

 

by and between:

 

 

 

 

 

 

 

 

 

 

whose address is:

 

 

 

 

 

 

 

hereinafter "SELLER" and

 

 

,

 

 

 

 

 

 

 

 

 

whose address is:

 

,

 

hereinafter "BUYER."

 

WI TNESSETH:

WHEREAS, BUYER and SELLER have entered into a Land Contract of even date herewith; and,

WHEREAS, the parties desire to enter into this Memorandum of Land Contract to give record notice of existence of the Land Contract .

NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, SELLER

acknowledges and agrees that they have sold to BUYER on the land contract dated

 

,

the

following

described premises situated in the

 

of

, County of

 

, and State

of

Michigan,

 

 

 

 

 

 

 

 

 

 

 

 

and particularly described as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax Parcel No.

Commonly known as:

The purpose of this Memorandum of Land Contract is to give record notice to the existence of the aforesaid Land Contract .

I N WI TNESS WHEREOF, the parties hereto have executed this Memorandum of Land Contract and have caused their hands and seals to be affixed hereto the day and year first above written.

Signed and Sealed:

Page 1 of 3

File No.:

Memorandum of Land Contract - continued

____________________________________

____________________________________

____________________________________

 

=

 

Page 2 of 3

File No.: dgsalemi ()

Memorandum of Land Contract - continued

 

=

 

 

 

 

 

 

STATE OF

Michigan

}

 

 

 

 

 

 

} ss

 

 

 

 

COUNTY OF

 

}

 

 

 

 

The foregoing instrument was acknowledged before me on

 

, by

 

.

 

 

 

Notary Public: _________________________________

 

 

 

Printed Name:

 

 

 

 

 

County, Michigan

 

 

 

 

Acting in the County of

 

 

 

 

My Commission Expires:

 

STATE OF

Michigan

}

 

 

 

 

 

 

} ss

 

 

 

 

COUNTY OF

 

}

 

 

 

 

The foregoing instrument was acknowledged before me on XXX, by Pet er Piper, a single person .

Notary Public: ______________________________

Printed Name:

County, Michigan

Acting in the County of

My Commission Expires:

Page 3 of 3

▼ Land Contract Michigan PDF Form

Document Specs

Fact Name Details
Purpose The Memorandum of Land Contract serves to provide public notice of the existence of a Land Contract between the seller and buyer.
Parties Involved The form includes two main parties: the "SELLER" and the "BUYER," each identified by their respective addresses.
Governing Law This form is governed by the laws of the State of Michigan, specifically under Michigan's land contract statutes.
Tax Parcel Information The form requires the inclusion of the Tax Parcel Number, which identifies the specific property involved in the transaction.
Execution Requirements Both parties must sign and seal the Memorandum to validate the document and indicate their agreement.
Notary Acknowledgment A notary public must acknowledge the signatures on the document, adding an extra layer of authenticity and legal recognition.
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