Powell County Memorandum of Contract Form

Additional Kentucky and Powell County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Powell County

Properties in any of these areas use Powell County forms:

• Clay City
• Slade
• Stanton

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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.

Important: Your property must be located in Powell County to use these forms. Documents should be recorded at the county recording office listed above.

This Memorandum of Contract meets all recording requirements specific to Powell County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Powell County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

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