Michigan PDF Forms

Michigan PDF Forms
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Documents used along the form

When engaging in a land contract in Michigan, several other documents often accompany the primary contract form. These documents help clarify the terms of the agreement and provide necessary legal protections for both parties involved. Below are some commonly used forms that you might encounter alongside the Michigan Land Contract form.

  • Forfeiture Notice (Form DC 101): This document is crucial if the purchaser defaults on the land contract. It formally notifies the buyer of the default due to nonpayment of installments, taxes, or other breaches. The notice outlines the amount due and provides a timeline for curing the default before the contract is forfeited.
  • Promissory Note: A Nevada Promissory Note serves as a crucial document in lending agreements, where one party promises to pay a specified amount to another, clearly outlining repayment terms and conditions. For more details, visit promissoryform.com/blank-nevada-promissory-note.
  • Purchase Agreement: This agreement details the terms of the sale, including the purchase price, payment schedule, and any contingencies. It serves as the foundation for the land contract, ensuring both parties are aligned on the transaction's specifics before finalizing the deal.
  • Disclosure Statement: Required by Michigan law, this document informs the buyer of any known defects or issues with the property. It helps protect the buyer by ensuring they are fully aware of the property's condition before making a purchase.
  • Warranty Deed: Once the land contract is fulfilled, a warranty deed is often used to transfer ownership of the property from the seller to the buyer. This document guarantees that the seller has clear title to the property and that it is free from any liens or encumbrances.

Understanding these additional documents can significantly enhance your experience with land contracts in Michigan. Each form plays a vital role in ensuring a smooth transaction and protecting the interests of both buyers and sellers. Always consider consulting with a legal professional to navigate these documents effectively.

Michigan Land Contract Preview

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.

 

 

 

 

 

 

1. You are notified that a certain land contract, dated

 

 

 

 

between

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name(s)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as seller(s) (party[ies] of the first part),

 

 

 

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

as purchaser(s) (party[ies] of the second part),

Name(s)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

concerning the property at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address or legal description of the premises

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

is in default because of nonpayment of installments of principal and/or interest, and also because of

 

 

 

 

 

unpaid taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

unpaidinsurancepremiums.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

other:

 

 

 

 

 

 

 

 

 

 

 

.

 

 

Explain any other material breach claimed as the basis for forfeiture

 

 

 

 

 

 

 

 

 

 

2. You have forfeited your rights under the land contract, and payment is demanded by

 

 

 

 

 

 

Name

 

 

 

 

 

 

 

 

 

seller.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

who holds the land contract as

assignee of seller.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

other:

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3. The sum of $

 

is now past due in principal and interest under the land contract, plus the sum of:

 

$

 

 

for taxes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

forinsurance.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

other:

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

The dates upon which payments were due are

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

4. The total amount due, or the material breach(es) of contract, must be cured or paid within

 

days* from

 

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.

Date

 

 

Signature

 

 

 

(To be copied, if necessary, to attach to the Complaint)

 

DC 101 (3/12)

FORFEITURE NOTICE, LAND CONTRACT

MCL 600.5728, MCL 600.5730

 

 

 

 

 

 

 

 

 

 

 

PROOFOFSERVICE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I,

 

 

 

 

 

 

 

 

 

 

state:

 

 

 

 

 

 

 

 

 

 

I served the above notice on:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defendant

 

 

 

Complete address of service

 

Day, date, time

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Defendant

 

 

 

Complete address of service

 

Day, date, time

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

by

personalservice.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

substitute service.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

first-class mail addressed to the defendant's last-known address as defined in MCR 2.107(C)(3).

 

 

 

 

 

 

 

I could not serve by one of the above methods. Service was made by publication.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROOFOFPUBLICATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thepublisher

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

, state that I am

the agent of the publisher

of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

, a qualified newspaper. Attached is a copy of a notice

of forfeiture of land contract taken from the newspaper. The dates of publication were:

 

 

 

 

 

 

 

a.

 

 

 

 

, b.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

, and c.

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature

 

 

 

 

 

 

 

Subscribed and sworn to before me on

 

 

 

 

 

 

,

 

 

 

 

 

 

 

 

 

 

County, Michigan.

 

 

 

 

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

My commission expires:

 

 

 

 

 

 

 

 

 

Signature:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notary public, State of Michigan, County of

Similar forms

The Michigan Land Contract form shares similarities with several other legal documents related to property transactions. Here’s a list of six documents that have comparable features and purposes:

  • Lease Agreement: Like a land contract, a lease agreement outlines the terms under which a tenant can occupy a property. Both documents specify payment obligations and the consequences of default, though a lease typically involves rental payments rather than purchase installments.
  • Purchase Agreement: This document serves as a contract between a buyer and seller for the sale of real estate. Similar to a land contract, it details the terms of payment and conditions for transferring ownership, but it usually requires full payment at closing rather than installment payments.
  • Deed of Trust: A deed of trust secures a loan with real property, much like a land contract secures the purchase of property. Both documents involve a borrower and lender, but a deed of trust typically involves a third party (trustee) who holds the title until the loan is repaid.
  • Mortgage Agreement: This document establishes a loan secured by real estate. Similar to a land contract, it includes payment terms and the possibility of foreclosure if payments are not made. However, a mortgage does not transfer ownership until the loan is fully paid.
  • Affidavit of Gift: When you need to document the transfer of a gift, consider the official Affidavit of Gift form guidelines to ensure the process is clear and legally recognized.
  • Forbearance Agreement: This document is used when a borrower is struggling to make payments. It outlines a temporary plan to defer or reduce payments. Like a land contract, it addresses payment issues but is more focused on providing relief rather than transferring property rights.
  • Quitclaim Deed: This document transfers whatever interest a person has in a property without guaranteeing that interest is valid. While a land contract is about purchasing property over time, a quitclaim deed is often used to transfer ownership quickly, without the complexities of a sale agreement.

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Misconceptions

Here are ten common misconceptions about the Michigan Land Contract form:

  1. Land contracts are the same as traditional mortgages. Many people think that land contracts operate like standard mortgages. However, they are distinct agreements where the seller retains the title until the buyer pays in full.
  2. Buyers have unlimited time to cure defaults. Some believe they can take their time to fix any payment issues. In reality, the law requires buyers to address defaults within a specified period, usually 15 days.
  3. Forfeiture notices are optional. A misconception exists that sellers can choose whether or not to issue a forfeiture notice. In fact, it is a required step in the process of enforcing the land contract.
  4. All defaults lead to immediate eviction. Many assume that any default automatically results in eviction. While nonpayment can lead to eviction, buyers often have the opportunity to cure the default first.
  5. Land contracts do not require formal documentation. Some think that a verbal agreement suffices. However, a written land contract is essential for legal enforcement and clarity.
  6. Buyers cannot negotiate terms. It's a common belief that buyers must accept the terms as-is. In truth, terms can often be negotiated before signing the contract.
  7. Insurance and tax payments are the seller's responsibility. Many buyers mistakenly think the seller handles these costs. Buyers are typically responsible for paying property taxes and insurance as outlined in the contract.
  8. Land contracts guarantee ownership. Some believe that signing a land contract guarantees ownership of the property. Ownership only transfers when the buyer fulfills all terms of the contract.
  9. Sellers cannot be held liable for defaults. There's a misconception that sellers have no obligations. Sellers must also adhere to the terms of the contract, including maintaining the property.
  10. Once a land contract is signed, it cannot be changed. Many think that the contract is set in stone. Modifications can be made if both parties agree and document the changes properly.

Detailed Instructions for Using Michigan Land Contract

Filling out the Michigan Land Contract form requires careful attention to detail. Each section must be completed accurately to ensure compliance with the relevant laws and to protect the rights of all parties involved. The following steps outline the process for completing the form.

  1. Begin by entering the court address and court telephone number at the top of the form.
  2. In the first section, fill in the case number.
  3. Identify the seller(s) by entering their name(s) in the designated space.
  4. Next, enter the name(s) of the purchaser(s) in the appropriate section.
  5. Provide the address or legal description of the property involved in the land contract.
  6. Indicate the reason for the default, including nonpayment of installments, unpaid taxes, unpaid insurance premiums, and any other material breaches that apply.
  7. In the next section, specify the name of the seller or the assignee who holds the land contract.
  8. Enter the total amount that is past due in principal and interest under the land contract.
  9. List the amounts due for taxes, insurance, and any other amounts owed.
  10. Document the dates on which payments were due.
  11. State the number of days allowed to cure the breach or pay the total amount due.
  12. Include the date of the notice at the bottom of the form.
  13. Sign the form to validate it.
  14. If necessary, complete the Proof of Service section by providing details about how the notice was served.
  15. For publication, fill out the Proof of Publication section, including the name of the newspaper and the dates of publication.
  16. Finally, have the document notarized by a notary public.

Once the form is filled out, it should be filed with the appropriate court. Ensure that copies are retained for personal records and for any parties involved. This process is crucial for maintaining legal compliance and protecting the rights of both sellers and purchasers in a land contract situation.

Dos and Don'ts

When filling out the Michigan Land Contract form, it is important to follow specific guidelines to ensure accuracy and compliance. Here are seven things to do and avoid:

  • Do double-check all names and addresses for accuracy.
  • Do clearly state the reasons for default, including any unpaid taxes or insurance premiums.
  • Do ensure that all amounts due are correctly calculated and clearly listed.
  • Do provide the correct timeline for curing the breach, making sure it aligns with the contract terms.
  • Don't leave any sections blank; incomplete forms can lead to delays or legal issues.
  • Don't use vague language when describing breaches; specificity is crucial.
  • Don't forget to sign and date the form, as this is a critical step in the process.