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

Guilford 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.

Guilford 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.

Guilford 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 Guilford County documents included at no extra charge:
Where to Record Your Documents
Greensboro Office
Greensboro, North Carolina 27401
Hours: 8:00 to 5:00 M-F
Phone: 336-641-7556
High Point Office
High Point, North Carolina 27260
Hours: 8:00 to 5:00 M-F
Phone: 336-641-7556
Recording Tips for Guilford County:
- Check that your notary's commission hasn't expired
- Documents must be on 8.5 x 11 inch white paper
- Recording fees may differ from what's posted online - verify current rates
- Request a receipt showing your recording numbers
- Make copies of your documents before recording - keep originals safe
Cities and Jurisdictions in Guilford County
Properties in any of these areas use Guilford County forms:
- Browns Summit
- Climax
- Colfax
- Gibsonville
- Greensboro
- High Point
- Jamestown
- Julian
- Mc Leansville
- Oak Ridge
- Pleasant Garden
- Sedalia
- Stokesdale
- Summerfield
- Whitsett
Hours, fees, requirements, and more for Guilford County
How do I get my forms?
Forms are available for immediate download after payment. The Guilford 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 Guilford County?
Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Guilford 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 Guilford 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 Guilford County?
Recording fees in Guilford County vary. Contact the recorder's office at 336-641-7556 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 Guilford 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 Guilford County.
Our Promise
The documents you receive here will meet, or exceed, the Guilford 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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November 13th, 2019
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December 31st, 2020
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