Gates County Release of a Memorandum of a Contract for Deed Form

Gates County Release of a Memorandum of a Contract for Deed Form
Fill in the blank Release of a Memorandum of a Contract for Deed form formatted to comply with all North Carolina recording and content requirements.

Gates County Release of a Memorandum of a Contract for Deed Guide
Line by line guide explaining every blank on the Release of a Memorandum of a Contract for Deed form.

Gates County Completed Example of the Release of a Memorandum of a Contract for Deed Document
Example of a properly completed North Carolina Release of a Memorandum of a Contract for Deed document for reference.
All 3 documents above included • One-time purchase • No recurring fees
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Additional North Carolina and Gates County documents included at no extra charge:
Where to Record Your Documents
Gates County Register of Deeds
Gatesville, North Carolina 27938
Hours: 9:00am - 5:00 pm Monday through Friday
Phone: (252) 357-0850
Recording Tips for Gates County:
- Documents must be on 8.5 x 11 inch white paper
- Leave recording info boxes blank - the office fills these
- Recorded documents become public record - avoid including SSNs
- Request a receipt showing your recording numbers
Cities and Jurisdictions in Gates County
Properties in any of these areas use Gates County forms:
- Corapeake
- Eure
- Gates
- Gatesville
- Hobbsville
- Roduco
- Sunbury
Hours, fees, requirements, and more for Gates County
How do I get my forms?
Forms are available for immediate download after payment. The Gates County forms will be in your account ready to download to your computer. An account is created for you during checkout if you don't have one. Forms are NOT emailed.
Are these forms guaranteed to be recordable in Gates County?
Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Gates County including margin requirements, content requirements, font and font size requirements.
Can I reuse these forms?
Yes. You can reuse the forms for your personal use. For example, if you have multiple properties in Gates County you only need to order once.
What do I need to use these forms?
The forms are PDFs that you fill out on your computer. You'll need Adobe Reader (free software that most computers already have). You do NOT enter your property information online - you download the blank forms and complete them privately on your own computer.
Are there any recurring fees?
No. This is a one-time purchase. Nothing to cancel, no memberships, no recurring fees.
How much does it cost to record in Gates County?
Recording fees in Gates County vary. Contact the recorder's office at (252) 357-0850 for current fees.
Questions answered? Let's get started!
In North Carolina, a release of a Memorandum of a Contract for Deed is a legal document used to formally terminate or cancel a previously recorded Memorandum of a Contract for Deed, indicating that the underlying contract for deed (also known as a land contract) is no longer in effect. Below, I’ll explain its purpose and who should sign it, based on North Carolina law and general real estate practices, while incorporating relevant details from the provided web results.
Purpose of a Release of a Memorandum of a Contract for Deed: A Memorandum of a Contract for Deed is recorded in the county register of deeds to publicly notify that a property is under a contract for deed, protecting the buyer’s equitable interest and preventing the seller from encumbering or selling the property to another party without notice. A release of this memorandum serves the following purposes:
• Termination of the Contract: It signals that the contract for deed has been terminated, either because:
• The buyer has fulfilled all payment obligations, and the seller has conveyed the deed, completing the transaction.
• The parties mutually agreed to cancel the contract.
• The buyer defaulted, and the seller exercised forfeiture rights after proper notice and failure to cure, extinguishing the buyer’s equitable interest.
• Clearing the Property Title: The release removes the memorandum from the public record, clearing any cloud on the property’s title. This ensures the seller can freely convey the property to another party or refinance without encumbrances tied to the prior contract.
• Legal Protection: It provides clarity to third parties (e.g., future buyers, lenders) that the contract for deed is no longer active, preventing disputes or claims on the property.
For example, if the buyer paid off the contract, the release confirms the transaction’s completion. If the contract was canceled (e.g., within the three-day cancellation period allowed under N.C. Statute 47H-2 or due to default), the release documents the termination.
Who Should Sign the Release? The signatories depend on the circumstances of the termination, but typically include:
• Seller (Vendor): The seller, who holds legal title to the property under the contract for deed, must sign the release to confirm the contract’s termination and release the memorandum from the public record.
• Buyer (Purchaser): In cases of mutual termination, the buyer should also sign to acknowledge the cancellation of the contract and their equitable interest in the property. This is explicitly required for a mutual termination under N.C. Statute 47H-2(e), which states that a mutual termination must be executed by both parties and recorded in the county register of deeds.
• Notary Public: The signatures of the seller (and buyer, if applicable) must be acknowledged by a notary public to meet North Carolina’s acknowledgment requirements for recording. This ensures the document complies with N.C. Statute 47-38 and is valid for registration.
Additional Notes:
• If the termination results from a forfeiture due to the buyer’s default, the seller may sign unilaterally after providing proper notice of default and intent to forfeit (per N.C. Statute 47H-4) and the buyer’s failure to cure within the specified period (at least 30 days).
• The release must be recorded in the office of the register of deeds in the county where the property is located, typically by the seller, unless the parties agree otherwise.
Practical Details
• Content: The release should reference the original Memorandum of a Contract for Deed, including the names of the parties, property description, and date of the original contract. It may also note the reason for termination (e.g., fulfillment, mutual cancellation, or forfeiture).
• Recording: Like the original memorandum, the release must be filed with the county register of deeds to update the public record.
• Format: The document must comply with North Carolina’s recording requirements, such as those outlined in N.C. Statutes and local county rules.
Example Scenario
• Completion of Contract: An Individual buys a property under a contract for deed, pays all installments, and the seller conveys the deed. The seller signs a release of the memorandum, notarized, and records it to clear the title.
• Mutual Cancellation: If buyer and the seller agree to cancel the contract within the three-day cancellation period or later, both sign a mutual termination and release, which is notarized and recorded.
• Default: If the buyer defaults and fails to cure after notice, the seller signs the release alone after forfeiture procedures, documenting the termination.
Important: Your property must be located in Gates County to use these forms. Documents should be recorded at the office below.
This Release of a Memorandum of a Contract for Deed meets all recording requirements specific to Gates County.
Our Promise
The documents you receive here will meet, or exceed, the Gates 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 Gates County Release of a Memorandum of a Contract for Deed 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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Linda C.
February 23rd, 2019
If I hadn't spent my career as an escrow officer (albeit in another state), I may have had a hard time figuring out exactly which deed I needed and how to prepare them, even with the back-up informational, how-to pdf documents, without an attorney. My experience speaks to how much the general public doesn't understand and how confusing it can be. Nonetheless, the access to so many documents at a fairly reasonable cost, the basic how-to docs made available along with the purchased doc makes all the difference. I appreciate having such things available to the public. Many thanks.
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December 20th, 2024
The release of mortgage form was OK, and accepted at the recorder's office, but there were some problems. Many of the fields to type in were too small to accept the data, and I could not find a way to change the field size or use a smaller font. Otherwise I was satisfied.
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March 21st, 2021
I thought the website was good. But once I paid the money and downloaded the papers I needed for Grays Harbor. I had to end up calling a escrow company that we had worked with only to find out that they work with a slightly different version. The escrow company was kind enough to email me the version Grays Harbor recommends and uses. There is a chance I could use theses in the future.
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