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Form #648

Act of Sale and Mortgage

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Act of sale and mortgage.

(Preamble same as in warranty deed) who declared to me, notary, that he does by these presents, grant, bargain, sell, convey, transfer, assign, set over, abandon and deliver, with all legal warranties and with full substitution and subrogation in and to all the rights and actions of warranty which he has or may have against all preceding owners and vendors, unto _________[name, address, domicile and marital status of vendee], here present, accepting and purchasing for himself, his heirs and assigns, and acknowledging due delivery and possession thereof, all and singular the following described property, to wit: _________[description of property].

To have and to hold the above described property unto the said purchaser, his heirs and assigns forever.

This sale is made and accepted for and in consideration of the price and sum of _________ dollars, in part payment whereof said vendee has paid in ready and current money the sum of _________ dollars to the said vendor, who hereby acknowledges the receipt thereof and grants full acquittance and discharge therefor, and for the balance of said purchase price, to-wit: the sum of _________ dollars, the said purchaser has furnished _________ promissory note _________, each for the sum of _________, dated _________, and payable _________, bearing interest at the rate of _________ per cent per annum from _________ until paid, which said note _________ after having been paraphed "Ne Varietur" by me Notary, to be identified herewith _________ delivered to the said vendor, who hereby acknowledges the receipt thereof.



 
Contributed by
Legal Concepts LTD
 
Name of Firm Legal Concepts LTD
Total Forms Contributed 63
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 12/7/2008
by DavidMarshall  

"Any legal form dealing with the transfer of title to land should always be vetted by someone with some legal understanding before you use it. In this case, the basic structure of the agreement may be sound but how you define the nature and extent of the land to be transferred to make sure that everything that should be included is included, is critical to the success of the transaction. It is also slightly limited in its appeal because it assumes a private mortgage given by the seller to the buyer, with the buyer tendering instalment payments by promissory notes. To make sure there is no doubt as to the identity of these notes, the witnessing notary endorses each one, “Ne Varietur”, not to be amended. The majority of sales will rely on third party finance and so use a separate form for the mortgage."
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Keywords: mortgage, real estate, sale, legal forms

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