Contract for Deed also known as a Land Contract
Included are Three forms:
(1) "Contract for Deed" evidenced by a Promissory Note and
(2) "Promissory Note" secured by a Contract for Deed.
(3) "Annual Accounting Statement"
This is considered a more secure method of owner financing than just a land contract because the promissory note is more elaborate and defining of late payments, defaults and penalties. Typically, a Contract for Deed is a recorded instrument, as where the promissory note is held onto by the Seller/Lender until the note is paid in full. These forms are governed by Kentucky law. A promissory note with strong default terms can be beneficial to the seller/lender.

The Contract for Deed form states that the consideration reflected is the fair market value for the property. The parties join this Contract for Deed for the sole purpose of certifying the consideration pursuant to Kentucky Revised Statutes Chapter 382. These forms offer the choice of typical installment payments or a balloon payment, which is common in land contracts, $XXX down, payments for 3-5 years with balance due of YYY.

(Kentucky Contract for Deed Package includes form, guidelines, and completed example) For use in Kentucky Only.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

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Common Uses for Contract for Deed and Promissory Note

Protect a buyer's interest in a property during installment payments
Assign a land contract to a new investor or purchaser
Release a previously recorded affidavit of equitable interest
Sell property to a buyer who does not qualify for traditional financing
Clear title after a contract for deed has been fulfilled

Compare other Kentucky deed forms and documents

Quitclaim Deed Gift Deed Warranty Deed Special Warranty Deed Grant Deed Correction Deed Easement Deed Termination, Cancellation of Easement / Right of Way Mineral Deed Mineral Deed with Quitclaim Covenants Affidavit of Surviving Joint Tenant Executor Deed Administrator Deed Affidavit of Descent Limited Power of Attorney for the Purchase of Real Property Limited Power of Attorney for the Sale of Property Durable Power of Attorney Notice of Furnishing Notice to Owner Mechanics Lien Discharge of Lien Discharge of Lien by Bond Partial Conditional Lien Waiver Partial Unconditional Lien Waiver Final Conditional Lien Waiver Final Unconditional Lien Waiver Lis Pendens Lis Pendens Release Disclaimer of Interest Certificate of Trust Memorandum of Contract Full Release of Memorandum of Contract Mortgage and Promissory Note Deed of Release for release of Mortgage Affidavit of Abandonment

Important: County-Specific Forms

Our contract for deed and promissory note forms are specifically formatted for each county in Kentucky.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

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