Q: I'm a buyer in a contract for deed.I no longer want to pursue this property. Me and the seller have agreed to part.
Is there any legality issues we need to worry about once we both terminate on our sides? Also the contract was not turned in to the state at all.
A: A simple written agreement between the parties stating they both consider the contract for deed to be null and void should do the trick as long as all parties sign and date enough copies that each of you gets one with all original signatures and the agreement describes the land involved. The agreement should also specify neither party is allowed to record a copy of the contract in the Recorder's Office of the county within which the land is located.
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