Leflore County Memorandum of Contract Forms (Mississippi)

Form Package

Memorandum of Contract

State

Mississippi

Area

Leflore County

Price

$27.97

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Included Forms

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

Included Supplemental Documents

The following Mississippi and Leflore County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Memorandum of Contract Forms:

• Leflore County

Including:

• Greenwood
• Itta Bena
• Minter City
• Money
• Morgan City
• Schlater
• Swiftown

What is the Mississippi Memorandum of Contract

When is this document used?
When a property is sold, and a Contract for the Sale and Purchase of Real Property (often called a Land Contract or Buy-Sell Agreement), has been executed by both parties this Memorandum document is often recorded in the county where the subject property is located instead of the actual Contract. Stating - Seller has agreed to sell, and Buyer has agreed to buy, the Property upon the terms and conditions set forth in the Contract.

Why a Memorandum of Contract?
Privacy - When parties want to keep financial details of a Contract for the Sale and Purchase of Real Property private, a Memorandum is recorded.

Notice - puts the world on notice that a Contract between buyer and seller exists on a specific property.

Legal - legal binding agreement between buyer and seller concerning the property in question.

Protection - Often filed by buyers alone, after a contract has been executed, preventing loans or encumbrances being placed on the property by 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. A Memorandum is an effective instrument to prevent this. In short, either the Contract or Memorandum of Contract should be recorded for your protection.

Seller Financing - When the buyer chooses or is obligated to obtain bank financing a Memorandum legitimizes the purchase agreement, providing proof to the bank that a deal was in place. Most banks will require that the Contract or Memorandum be recorded before they will finance the property in question.

For use in Mississippi only.

Our Promise

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

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Get your Leflore 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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