Michigan Land Contract Template – US

Disclaimer

The information provided serves as a general example pertaining to agreements for land acquisition and financing arrangements within the United States. It is not legal advice and should not replace consultation with a qualified attorney experienced in real estate transactions and contractual law. Regulations and laws may differ across jurisdictions, and modifications might be necessary to meet specific local requirements. The use of this example is solely at the user’s discretion, and we accept no liability for errors, omissions, or consequences resulting from its use without professional legal review.

Please note: This is a sample Michigan Land Contract template, provided for general illustrative purposes only. Actual terms may vary based on specific agreements and applicable Michigan laws.

Michigan Land Contract Sample

Parties Involved:

Seller: John A. Doe
Address: 123 Elm Street, Detroit, MI 48201

Buyer: Jane B. Smith
Address: 456 Maple Avenue, Grand Rapids, MI 49503

Property Description:

The property subject to this agreement is located at 789 Oak Street, Detroit, MI 48202, including all improvements and fixtures as described herein or as subsequently negotiated.

Contract Terms:

The buyer agrees to pay the seller a purchase price of $100,000, payable through installments over a period of 5 years, as detailed in the payment schedule in Schedule A.

Seller Responsibilities:

The seller warrants that they hold clear title to the property and will deliver possession upon full payment, ensuring that the property is free of liens or encumbrances at closing.

Governing Law:

This land contract shall be governed by the laws of the State of Michigan. Dispute resolution shall occur within the courts of Wayne County, Michigan.

Additional Provisions:

• The buyer shall have the right to inspect the property prior to execution of this contract.
• This contract may be amended only through a written agreement signed by both parties.
• Title insurance and closing costs shall be allocated as specified in Schedule B.

Detroit, ______________________