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Understanding Land Records

Angela Cloward
Angela Cloward ✭✭
August 31, 2021 in General Questions

Land records are not my forte. I'd appreciate some interpretation of the following. What does the option for the seller to reposes the land mean?

In consideration for which the second parties agree to pay for said real estate and other property included herein the sum of seventeen thousand four hundred dollars payment to be made as follows: one thousand cash down the receipt of which is hereby acknowledged and six thousand four hundred to be paid March 1st, 1911 and first party agrees to take back mortgage for $10000 for five years at 6% interest. Interest payable annually, second party has right to pay any part or all of the $10000 on the first day of March 1911.

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Answers

  • Mirevo
    Mirevo ✭✭✭✭
    August 31, 2021

    Can you give details on: are you Indexing, reviewing or searching indexed records?

    Can you post the URl link to see thise records. Thank you.

    0
  • Angela Cloward
    Angela Cloward ✭✭
    August 31, 2021

    I am not indexing. I have recently acquired a purchase contract of someone I am researching. The first party is the seller the second party is a company (buyer).

    1
  • Angela Cloward
    Angela Cloward ✭✭
    September 1, 2021

    SOLVED

    I learned from a friend that this a seller financing the property.

    0
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