A Memorandum of Contract is a short-form document recorded with the Registry of Deeds to provide constructive notice of a pending or existing agreement involving the purchase or transfer of real estate. It protects the buyer's equitable interest and discourages third-party sales or encumbrances. A memorandum of agreement is typically recorded to give notice to third parties (like lenders or buyers) that a property is under contract. It usually:
Identifies the parties
Describes the property
States that there is a contract to sell
May include closing date or conditions
Often omits purchase price or other confidential terms

For use in Massachusetts only.

Back to Massachusetts