Land Records
Land Contract / Contract for Deed
Contract between a buyer and seller of real property to purchase. The title remains with the seller until completion of the contract, at which time the seller must tender a deed to the buyer.
The document requires:
- Name of the seller. (KRS 382.200)
- Name of the buyer and their mailing address. (KRS 382.335)
- Legal description of the property. (Common Law & OAG 81-100)
- Source of title. (KRS 382.110)
- Preparation Statement. (KRS 382.335)
- The clerk shall request a return mail address. (KRS 382.240)
- Document must be: signed and acknowledged (notarized) by both parties. (Since this document is analogous to a mortgage and a conveyance it needs to be signed by both parties.) (Contract Law and KRS 382.130 & OAG 95-12)
Legal process tax is collected because the land contract is analogous to a mortgage and a conveyance has occurred. OAG 95-12 & Sebastian v. Floyd.