Fayette County Memorandum of Contract Forms (Kentucky)

Form Package

Memorandum of Contract

State

Kentucky

Area

Fayette County

Price

$27.97

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Included Forms

All Fayette County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Kentucky and Fayette County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Memorandum of Contract Forms:

• Fayette County

Including:

• Lexington

What is the Kentucky Memorandum of Contract

This form serves as notice that the Seller has agreed to sell, and Buyer has agreed to buy a specific property. Record this instrument when a Contract for Deed, Land Contract or Buy-Sell Purchase Agreement has been completed. This is done for a variety of reasons.

When parties want the details of a contract to be kept private.

When the Seller doesn't record the original Contract, very important for the Buyer to record a Memorandum of Contract. It serves as notice that the buyer is in fact purchasing the property, providing protection from further liens or encumbrances being placed on the property by the Seller. Memorandums are frequently recorded by buyers alone.

When owner financing is involved, and a buyer needs to finance property at a later point in time, a Lending Institution will most likely require a recorded Memorandum document. Further, banks like to see a history of payments, at least 12 months, often referred to as "Seasoning" a recorded Memorandum proves the subject property was under contract at a specific time.

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

Our Promise

The documents you receive here will meet, or exceed, the Fayette County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Fayette County Memorandum of Contract form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

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