Bill Of Sale With Payment Plan
Buyer Information | Information |
|---|
Name | [Buyer Name] |
Email | [Your Email] |
Phone Number | [Your Phone Number] |
I. Introduction
This Seller Bill Of Sale With Payment Plan is entered into on the 20th of January 2050, by and between [Your Name], residing at [Your Company Address], hereinafter referred to as the "Seller," and [Buyer Name], hereinafter referred to as the "Buyer," for the sale of [Property Description] ("Property").
II. Sale and Purchase
The Seller agrees to sell and the Buyer agrees to purchase the Property described above for the total purchase price of $75,000 ("Purchase Price").
The Purchase Price includes the cost of the Property as well as any applicable taxes, fees, and other charges.
The Seller warrants that they are the lawful owner of the Property and have the right to sell it to the Buyer.
III. Payment Plan
The Buyer shall pay the Purchase Price according to the following payment plan:
Down Payment: The Buyer shall make a down payment of $15,000 upon signing this Agreement. This down payment shall be non-refundable and will be credited towards the Purchase Price.
Installments: The remaining balance of the Purchase Price shall be paid in equal consecutive monthly installments of $1,500 each, beginning on February 1, 2050, and continuing on the 1st of each month thereafter until the entire balance is paid in full.
Interest: No interest shall be charged on the outstanding balance.
The Buyer shall have the option to prepay the outstanding balance in full at any time without penalty.
IV. Default
If the Buyer fails to make any payment when due under this Agreement, the Seller may declare the entire outstanding balance immediately due and payable.
In the event of default, the Seller shall have the right to pursue any remedies available under applicable law, including but not limited to repossession of the Property and legal action to recover the outstanding balance.
V. Transfer of Title
The Seller agrees to transfer the title of the Property to the Buyer upon receipt of the full Purchase Price.
Until the full Purchase Price is paid, the Seller shall retain legal title to the Property, and the Buyer shall hold equitable title.
VI. Governing Law
This Plan shall be governed by and construed following the laws of [State/Country]. Any disputes arising under or in connection with this Agreement shall be resolved through arbitration in [City/Region] following the rules of the American Arbitration Association.
VII. Entire Agreement
This Agreement encompasses the complete and comprehensive understanding between the parties involved and replaces, supersedes, and nullifies any prior agreements and understandings, irrespective of whether they were oral or written, that relate to the subject matter addressed in this document.
VIII. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
[Your Name]
[Date]
[Buyer Name]
[Date]
IX. Acknowledgment
I, the undersigned notary public, certify that [Your Name] and [Buyer Name] personally appeared before me and acknowledged that they signed this Agreement freely and voluntarily for the purposes stated herein.
[Notary Public Name]
[Seal/Stamp]
X. Additional Details
The Buyer acknowledges that they have inspected the Property and accepts it in its current condition.
The Seller agrees to provide any necessary documentation to facilitate the transfer of title to the Buyer upon full payment of the Purchase Price.
The Seller shall be responsible for maintaining insurance on the Property until the transfer of title to the Buyer.
The Buyer shall be responsible for any maintenance, repairs, or improvements to the Property following the execution of this Agreement.
Any modifications or amendments to this Agreement shall be made in writing and signed by both parties.
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