Contract for Deed (Land Contract)

CONTRACT FOR DEED

(State of Kansas)

1. PARTIES

This Contract for Deed (this "Contract") is made as of [__/__/____] by and between:

Seller: [SELLER LEGAL NAME], of [SELLER ADDRESS] ("Seller"); and

Buyer: [BUYER LEGAL NAME], of [BUYER ADDRESS] ("Buyer").

Seller and Buyer are each a "Party" and together the "Parties."

2. LEGAL DESCRIPTION AND PROPERTY

Seller agrees to sell, and Buyer agrees to buy, on the terms in this Contract, the following real estate located in [COUNTY] County, Kansas (the "Property"):

Street address: [________________________________]

Legal description:

[INSERT COMPLETE METES-AND-BOUNDS OR LOT-BLOCK-PLAT LEGAL DESCRIPTION — attach as Exhibit A if lengthy]

Parcel / Tax ID No.: [____________]

together with all improvements, fixtures, easements, and appurtenances, and the following personal property included in the sale (if any): [________________________________].

3. PURCHASE PRICE, DOWN PAYMENT, AND INSTALLMENT TERMS

Interest accrues on the unpaid principal balance from [__/__/____]. Each payment shall be applied first to accrued interest, then to principal, unless otherwise required by law. Time is of the essence.

☐ Prepayment permitted in whole or in part at any time without penalty.
☐ Prepayment subject to the following terms: [________________________________].

4. TITLE; DEED HELD PENDING PAYOFF; ESCROW

4.1 Retention of legal title. Under K.S.A. § 58-5203, the Seller is required to hold legal title to the Property until Buyer has paid the full purchase price (subject to the statutory exceptions). Seller retains legal title as security; Buyer holds equitable title and is entitled to possession as provided below.

4.2 Deed delivered at payoff. Upon full payment and performance, Seller shall convey marketable title to Buyer by [☐ Warranty Deed ☐ Special Warranty Deed], free of liens except those of record at signing and those created or permitted by Buyer.

4.3 Escrow of executed deed (optional). ☐ Seller shall, at signing, execute and deposit a [Warranty Deed] into escrow with [ESCROW AGENT NAME], to be delivered to Buyer upon full payment and returned to Seller upon a completed statutory forfeiture or foreclosure.

4.4 Title evidence. Seller shall furnish, at [☐ Seller's ☐ Buyer's] expense, a commitment for an owner's title insurance policy or abstract showing marketable title in Seller, subject only to the permitted exceptions.

5. RECORDING

This Contract for Deed (or an affidavit of equitable interest) may be recorded in the office of the Register of Deeds of [COUNTY] County, Kansas, by any interested person, pursuant to K.S.A. §§ 58-5202(a) and 58-2221. Recording protects Buyer's interest against subsequent purchasers and creditors. Recording fees are paid by [________________].

6. POSSESSION

Buyer is entitled to possession of the Property on [__/__/____]. Buyer shall keep the Property in good repair and shall not commit waste.

7. TAXES, INSURANCE, AND MAINTENANCE

7.1 Taxes and assessments. Beginning [__/__/____], Buyer shall pay before delinquency all real estate taxes and special assessments. [☐ Buyer shall escrow 1/12 of estimated annual taxes monthly with Seller/escrow.]

7.2 Insurance. Buyer shall keep the improvements insured against fire and extended-coverage hazards for not less than $[____________], naming Seller as additional insured / loss payee as Seller's interest may appear, and shall deliver evidence of coverage.

7.3 Maintenance and utilities. Buyer shall maintain the Property, comply with all laws, and pay all utilities and charges.

8. DEFAULT AND REMEDIES

8.1 Events of Default

Buyer is in default if Buyer (a) fails to pay any installment or other sum when due; (b) fails to pay taxes or maintain insurance; (c) commits waste; or (d) breaches any other term and fails to cure within the time stated in the statutory notice.

8.2 No Forfeiture Except by Statute (K.S.A. § 58-5204)

Notwithstanding any provision in this Contract providing for forfeiture, Buyer's rights under this Contract shall not be forfeited or canceled except as provided in K.S.A. § 58-5204. Buyer's rights shall not be forfeited until Buyer has been served a notice of default and intent to forfeit and given a right to cure, and has failed to cure within the time allowed. A timely tender of cure reinstates the Contract.

8.3 Notice of Default and Intent to Forfeit

A notice of default and intent to forfeit shall:

• (1) reasonably identify this Contract and describe the Property covered by it;
• (2) specify the terms and conditions with which Buyer has not complied; and
• (3) notify Buyer that the Contract will be forfeited unless Buyer performs the terms and conditions within:
• (A) thirty (30) days from completed service of notice, if Buyer has paid less than 50% of the purchase price; or
• (B) ninety (90) days from completed service of notice, if Buyer has paid 50% or more of the purchase price.

The notice shall be served on Buyer in person, by leaving a copy at Buyer's usual place of residence with a person of suitable age and discretion who resides there, or by certified or priority mail, return receipt requested, addressed to Buyer's usual place of residence (K.S.A. § 58-5204(d)).

8.4 Equitable Foreclosure Preserved

Nothing in this Contract limits the power of the Kansas district court to require proceedings in equitable foreclosure, nor precludes either Party from pursuing any other remedy at law or equity (K.S.A. § 58-5204(a), (e)). Where Buyer has acquired substantial equity, a court may require the Seller to proceed by foreclosure and judicial sale rather than forfeiture.

8.5 Buyer's Cure / Grace

Buyer has the statutory cure period stated above. A [____]-day courtesy grace period applies to monthly installments before a late charge of [____]% / $[____] is assessed.

9. DUE-ON-SALE / GARN-ST. GERMAIN NOTICE

If any mortgage encumbers the Property, it may contain a "due-on-sale" clause permitting the lienholder to accelerate the debt upon transfer. The federal Garn-St. Germain Act (12 U.S.C. § 1701j-3) exempts certain transfers but a contract-for-deed sale may trigger acceleration. Seller represents that [☐ the Property is unencumbered ☐ the lienholder has consented ☐ Seller will keep the underlying loan current]. The Parties acknowledge this risk.

10. ASSIGNMENT

Buyer shall not assign this Contract or convey Buyer's equitable interest without Seller's prior written consent, not to be unreasonably withheld. Seller may assign Seller's interest subject to Buyer's rights.

11. RISK OF LOSS

Risk of loss passes to Buyer upon possession. If the Property is materially damaged or condemned, insurance or condemnation proceeds shall be applied as the Parties agree or as required by law, with any balance credited to the purchase price.

12. DISCLOSURES

12.1 Seller's title obligation (KCPA). Under K.S.A. § 58-5203, a seller's failure to hold title as required (subject to statutory exceptions) is a deceptive act or practice under the Kansas Consumer Protection Act (K.S.A. § 50-623 et seq.).

12.2 Property condition. Seller shall make the property-condition disclosures customary and required for residential sales in Kansas.

12.3 Lead-based paint (pre-1978 housing). If the dwelling was built before 1978, federal law (42 U.S.C. § 4852d; 24 C.F.R. pt. 35; 40 C.F.R. pt. 745) requires Seller to disclose known lead-based paint and hazards, provide the EPA pamphlet "Protect Your Family From Lead in Your Home," provide available records, and give Buyer a 10-day inspection opportunity. The signed Lead Warning Statement must be attached.

☐ Property was built before 1978 (lead disclosure attached).
☐ Property was built in 1978 or later (lead disclosure not required).

12.4 Other disclosures: [________________________________].

13. GENERAL PROVISIONS

13.1 Governing law. This Contract is governed by the laws of the State of Kansas.

13.2 Entire agreement; amendment. This Contract is the entire agreement and may be amended only in a writing signed by both Parties.

13.3 Severability. If any provision is held invalid, the remainder remains in effect.

13.4 Notices. Notices must be in writing and delivered to the addresses above. Default/forfeiture notices must additionally comply with K.S.A. § 58-5204.

13.5 Successors. This Contract binds and benefits the Parties' heirs, successors, and permitted assigns.

14. SIGNATURES AND ACKNOWLEDGMENT

IN WITNESS WHEREOF, the Parties have executed this Contract as of the date first written above.

SELLER:

Signature: _________________________________ Date: [__/__/____]

Printed name: [SELLER LEGAL NAME]

BUYER:

Signature: _________________________________ Date: [__/__/____]

Printed name: [BUYER LEGAL NAME]

ACKNOWLEDGMENT

This instrument was acknowledged before me on [__/__/____] by [NAME(S)].

_________________________________
Notary Public in and for the State of Kansas
My commission expires: [__/__/____]

15. CONSUMER-PROTECTION GUIDANCE

SOURCES AND REFERENCES

• K.S.A. § 58-5201 (Kansas Contract for Deed Act; definitions): https://www.ksrevisor.gov/statutes/chapters/ch58/058_052_0001.html
• K.S.A. § 58-5202 (Recording; seller remedies): https://law.justia.com/codes/kansas/chapter-58/article-52/section-58-5202/
• K.S.A. § 58-5204 (Notice of default; cure; foreclosure): https://www.ksrevisor.gov/statutes/chapters/ch58/058_052_0004.html
• K.S.A. § 58-2221 (Recording instruments): https://ksrevisor.gov/statutes/chapters/ch58/058_022_0021.html
• 2024 Kan. Sess. Laws ch. 63 (HB 2562): https://www.sos.ks.gov/publications/sessionlaws/2024/Chapter-63-HB-2562.html
• Kansas Consumer Protection Act, K.S.A. § 50-623 et seq.
• Federal lead disclosure: https://www.epa.gov/lead/real-estate-disclosure