Are you interested in purchasing a home in Michigan? Whether it's your first time or you're an experienced investor, understanding the ins and outs of land contracts is essential. A land contract form outlines the agreement between a buyer and seller for the purchase of real estate. Not only does this document provide important legal protections for both parties, but it also serves as proof that funds were exchanged and establishes ownership rights over property. In this blog post, we'll take an in-depth look at the Michigan Land Contract Form so you can be better informed when making such a major financial decision.
| Question | Answer |
|---|---|
| Form Name | Michigan Land Contract Form |
| Form Length | 3 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 45 sec |
| Other names | notice of forfeiture of contract, forfeiture notice, michigan forfeiture, contract form forfeiture |
FORFEITURE NOTICE
LAND CONTRACT
(FORM DC 101)
Approved, SCAO
STATE OF MICHIGAN JUDICIAL DISTRICT
FORFEITURE NOTICE
Land Contract
CASE NO.
Court address |
Court telephone no. |
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1. You are notified that a certain land contract, dated |
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between |
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Name(s) |
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as seller(s) (party[ies] of the first part), |
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and |
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as purchaser(s) (party[ies] of the second part), |
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Name(s) |
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concerning the property at |
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Address or legal description of the premises |
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is in default because of nonpayment of installments of principal and/or interest, and also because of |
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unpaid taxes. |
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unpaidinsurancepremiums. |
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other: |
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Explain any other material breach claimed as the basis for forfeiture |
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2. You have forfeited your rights under the land contract, and payment is demanded by |
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Name |
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seller. |
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who holds the land contract as |
assignee of seller. |
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other: |
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. |
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3. The sum of $ |
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is now past due in principal and interest under the land contract, plus the sum of: |
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$ |
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for taxes. |
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$ |
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forinsurance. |
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$ |
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other: |
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. |
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The dates upon which payments were due are |
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4. The total amount due, or the material breach(es) of contract, must be cured or paid within |
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days* from |
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the date of the service of notice upon you. (*15 days, unless the parties have by contract agreed to a longer time.)
5.If the total amount due is not paid in full within the time stated, or if the material breach(es) is/are not cured within the time stated, the land contract will be forfeited, as provided in the contract, and you will be required to move out and give up the described property without further notice to you. IF YOU DO NOT MOVE OR PAY VOLUNTARILY, THE CONTRACT HOLDER MAY
TAKE YOU TO COURT TO EVICT YOU.
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Signature |
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(To be copied, if necessary, to attach to the Complaint) |
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DC 101 (3/12) |
FORFEITURE NOTICE, LAND CONTRACT |
MCL 600.5728, MCL 600.5730 |
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PROOFOFSERVICE |
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I, |
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state: |
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I served the above notice on: |
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Defendant |
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Complete address of service |
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Day, date, time |
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Defendant |
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Complete address of service |
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Day, date, time |
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by |
personalservice. |
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substitute service. |
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I could not serve by one of the above methods. Service was made by publication. |
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Signature |
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PROOFOFPUBLICATION |
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thepublisher |
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I, |
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, state that I am |
the agent of the publisher |
of |
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, a qualified newspaper. Attached is a copy of a notice |
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of forfeiture of land contract taken from the newspaper. The dates of publication were: |
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a. |
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, b. |
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, and c. |
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Signature |
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Subscribed and sworn to before me on |
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, |
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County, Michigan. |
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Date |
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My commission expires: |
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Signature: |
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Date |
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Notary public, State of Michigan, County of