Otsego County Memorandum of Land Contract Form

Additional Michigan and Otsego County documents included at no extra charge:

Where to Record Your Documents

---

Cities and Jurisdictions in Otsego County

Properties in any of these areas use Otsego County forms:

• Elmira
• Gaylord
• Johannesburg
• Vanderbilt
• Waters

---

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 Land Contract has been completed. This is done for a variety of reasons.
A Memorandum of Land Contract serves as a notice to the "world" that a specific property is under a seller-financed purchase agreement.

Often used when parties want the details of a Land Contract to be kept private.

Why a buyer needs a recorded Memorandum of Land Contract. It is important to prevent loans or encumbrances being placed on the property by the existing Deed holder. Encumbrances have been placed on properties even though the Contract states they can't. This can be devastating for a buyer who has made payments. For protection either the Land Contract document or a Memorandum of Land Contract document should be recorded.

Why a Seller needs a recorded Memorandum of Land Contract. 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.

(Michigan MOC Package includes form, guidelines, and completed example) For use in Michigan Only.

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

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

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Otsego 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.

Save Time and Money

Get your Otsego County Memorandum of Land 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.

4.8 out of 5 - ( 4,833 Reviews )