➼

Free Michigan Land Contract Template in PDF

The Michigan Land Contract form is a legal document used in real estate transactions, allowing buyers to purchase property through installment payments. This contract outlines the terms and conditions of the sale, including payment schedules and consequences of default. Understanding this form is crucial for both buyers and sellers to protect their rights and avoid potential legal issues.

Create My Document

Create My Document

Structure

The Michigan Land Contract form plays a crucial role in real estate transactions, particularly for buyers and sellers who opt for this method of property financing. This form outlines the agreement between the seller and the purchaser, detailing the obligations of both parties regarding payment terms, property description, and other essential conditions. One significant aspect of the form is the forfeiture notice, which alerts the purchaser when they are in default due to nonpayment of principal, interest, or other financial obligations such as taxes and insurance. The notice specifies the amount due, including any past due payments and additional costs, and sets a timeline for the purchaser to remedy the default. If the purchaser fails to act within the specified period, the seller may initiate forfeiture proceedings, which could lead to eviction. Understanding the intricacies of the Michigan Land Contract form is vital for both parties to ensure compliance and protect their interests throughout the transaction process.

Form Example

FORFEITURE NOTICE

LAND CONTRACT

(FORM DC 101)

Approved, SCAO

STATE OF MICHIGAN JUDICIAL DISTRICT

FORFEITURE NOTICE

Land Contract

CASE NO.

Court address		Court telephone no.

1. You are notified that a certain land contract, dated

between

Name(s)

as seller(s) (party[ies] of the first part),

and

as purchaser(s) (party[ies] of the second part),

Name(s)

concerning the property at

Address or legal description of the premises

is in default because of nonpayment of installments of principal and/or interest, and also because of

unpaid taxes.

unpaidinsurancepremiums.

other:

Explain any other material breach claimed as the basis for forfeiture

2. You have forfeited your rights under the land contract, and payment is demanded by

Name

seller.

who holds the land contract as

assignee of seller.

other:

3. The sum of $

is now past due in principal and interest under the land contract, plus the sum of:

for taxes.

forinsurance.

other:

The dates upon which payments were due are

4. The total amount due, or the material breach(es) of contract, must be cured or paid within

days* from

the date of the service of notice upon you. (*15 days, unless the parties have by contract agreed to a longer time.)

5.If the total amount due is not paid in full within the time stated, or if the material breach(es) is/are not cured within the time stated, the land contract will be forfeited, as provided in the contract, and you will be required to move out and give up the described property without further notice to you. IF YOU DO NOT MOVE OR PAY VOLUNTARILY, THE CONTRACT HOLDER MAY

TAKE YOU TO COURT TO EVICT YOU.

Date			Signature
		(To be copied, if necessary, to attach to the Complaint)
DC 101 (3/12)	FORFEITURE NOTICE, LAND CONTRACT			MCL 600.5728, MCL 600.5730

PROOFOFSERVICE

state:

I served the above notice on:

Defendant

Complete address of service

Day, date, time

Defendant

Complete address of service

Day, date, time

personalservice.

substitute service.

first-class mail addressed to the defendant's last-known address as defined in MCR 2.107(C)(3).

I could not serve by one of the above methods. Service was made by publication.

Signature

PROOFOFPUBLICATION

thepublisher

, state that I am

the agent of the publisher

, a qualified newspaper. Attached is a copy of a notice

of forfeiture of land contract taken from the newspaper. The dates of publication were:

, b.

, and c.

Signature

Subscribed and sworn to before me on

County, Michigan.

Date

My commission expires:

Signature:

Date

Notary public, State of Michigan, County of

▼ Michigan Land Contract PDF Form

Document Specs

Fact Name	Details
Form Title	Forfeiture Notice Land Contract (Form DC 101)
Governing Law	MCL 600.5728, MCL 600.5730
Parties Involved	Includes seller(s) and purchaser(s) of the land contract.
Default Notification	Notice is given for default due to nonpayment of installments and unpaid taxes.
Payment Demand	Payment is demanded by the seller or the assignee of the seller.
Amount Due	Details the total amount due in principal, interest, taxes, and insurance.
Cure Period	The total amount due must be cured within 15 days unless otherwise agreed.
Consequences of Non-Payment	If not cured, the land contract will be forfeited, requiring the purchaser to vacate.
Service of Notice	Notice can be served personally, by substitute service, or by mail to the last-known address.

Please rate Free Michigan Land Contract Template in PDF Form

4.79

Superb

19 Votes

Fill out Common Templates

Application for Handicap Parking - Physicians completing the form must provide their medical license number.

Form 151 - It serves as a safeguard for businesses, assuring the state of their commitment to tax compliance through authorized representation.

For those who need assistance with the eviction process, resources are available to help you navigate the legal requirements, including the important Illinois PDF Forms that can guide landlords and tenants in creating a comprehensive Notice to Quit.

Mc 230 - MC 315 is utilized when a patient’s medical history is pertinent to a court case, offering structured consent for release.