Common use of Delivery of Deed Clause in Contracts

Delivery of Deed. Upon full payment of this contract, Vendor shall issue a General Warranty deed to the Vendees free of all encumbrances except as otherwise set forth. In addition, Vendees reserves the right to convert this contract into a note and mortgage which shall bear the same terms as the contract for the remaining balance, and receive a warranty Deed to Vendees or assigns from Vendor, anytime the following conditions have been met by then Vendees, 1. At least 20% of the purchase price has been paid to the Vendor. 2. Vendee is willing to pay all the costs of title transfer and document preparations.

Delivery of Deed. Upon full payment of this contract, Vendor shall issue a General Warranty deed to the Vendees free of all encumbrances except as otherwise set forth. In addition, Vendees ▇▇▇▇▇▇▇ reserves the right to convert this contract into a note and mortgage which shall bear the same terms as the contract for the remaining balance, and receive a warranty Deed to Vendees or assigns from Vendor, anytime the following conditions have been met by then Vendees, 1. At least 20% of the purchase price has been paid to the Vendor. 2. Vendee is willing to pay all the costs of title transfer and document preparations.