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Mississippi Land Contract

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CONTRACT FOR DEED

Prepared by:

Return to:

State of Mississippi

County of

Judicial District

CONTRACT FOR DEED

Name and Address of Owner/Seller:

Name and Address of Buyer:

See Exhibit A attached hereto

Legal Description

Indexing Instructions:

1. SALE OF PROPERTY

For and in consideration of TEN DOLLARS ($10.00) and other good and valuable considerations the receipt and sufficiency of which is hereby acknowledged, Seller does hereby agree to convey, sell, assign, transfer and set over unto Purchaser, the following property situated in County, State of Mississippi, said property being described as follows:

2. PURCHASE PRICE AND TERMS

The purchase price of the property shall be $. The purchaser does hereby agree to pay to the order of the Seller the sum of Dollars ($) upon execution of this agreement, with the balance of $ being due and payable as follows:

(a) Balance payable in () monthly installments of Dollars ($) each, with the first installment due on and the final payment due on . No interest.

(b) Balance payable, together with interest at per cent, per annum, payable in the amount of $ per month beginning on until fully paid.

(c) Balance payable, together with interest at per cent, per annum, payable in the amount of dollars per month beginning on and continuing until , when all remaining principal and interest shall be paid. (Balloon payment)

If interest is charged, interest shall be computed monthly and deducted from payment and the balance of payment shall be applied on principal.

3. TIME OF THE ESSENCE

Time is of the essence in the performance of each and every term and provision in this agreement by Purchaser.

4. SECURITY

This contract shall stand as security of the payment of the obligations of Purchaser.

5. MAINTENANCE OF IMPROVEMENTS

All improvements on the property shall remain part of the security for the performance of this contract and shall not be removed therefrom.

6. CONDITION OF IMPROVEMENTS

Purchaser accepts the property in its "as-is" condition without warranty of any kind.

7. POSSESSION OF PROPERTY

Purchaser shall take possession upon execution of this contract and shall continue in peaceful enjoyment so long as payments are timely made.

8. TAXES, INSURANCE AND ASSESSMENTS

Taxes and Assessments: During the term of this contract:

(a) Purchaser shall pay all taxes and assessments levied against the property.

(b) Seller shall pay all taxes and assessments levied against the property. Purchaser shall reimburse Seller upon 30 days notice.

Content Insurance: Purchaser shall be solely responsible for obtaining insurance of contents owned by Purchaser.

Liability and Hazard Insurance: Liability insurance shall be maintained by Purchaser in the amount of not less than $.

Fire, Hazard and Windstorm insurance: Maintained as follows:

(a) Purchaser shall obtain insurance in the amount not less than $ naming Seller as additional insured.

(b) Seller shall obtain and pay for insurance in an amount not less than $.

Interest on amounts advanced by Seller shall accrue at the rate of per cent per annum.

9. DEFAULT

If the Purchaser fails to perform any covenant or condition, Seller may give notice of default and remedies as described in the agreement.

10. DEED AND EVIDENCE OF TITLE

Upon total payment, Seller agrees to deliver a Warranty Deed to the subject property free and clear of liens or encumbrances other than current-year taxes and assessments.

11. NOTICES

Seller:

Purchaser:

12. ASSIGNMENT OR SALE

Purchaser shall not sell, assign, transfer or convey any interest without written consent of Seller.

13. PREPAYMENT

Purchaser has the right to prepay, without penalty, the whole or any part of the balance remaining unpaid.

14. ATTORNEY FEES

In the event of default, Purchaser shall pay Seller's reasonable and actual attorneys' fees and expenses incurred by Seller in enforcement of any rights of Seller.

15. LATE PAYMENT CHARGES

If Purchaser fails to pay within fifteen (15) days after due date, an additional charge of five (5%) percent of the late installment shall be required.

16. CONVEYANCE OR MORTGAGE BY SELLER

Seller may place a mortgage on the premises and may convey interest subject to the terms of this agreement.

17. ENTIRE AGREEMENT

This Agreement embodies and constitutes the entire understanding between the parties with respect to the transactions contemplated herein.

18. AMENDMENT – WAIVERS

This Agreement shall not be modified except by a writing signed by all parties.

19. SEVERABILITY

If any provision is held illegal or unenforceable, the remaining provisions shall remain enforceable.

20. HEADINGS

Section headings are inserted for convenience only and do not affect the meaning of the Agreement.

21. PRONOUNS

All pronouns and variations shall be deemed to refer to the applicable gender, singular or plural, as required.

22. JOINT AND SEVERAL LIABILITY

All Purchasers, if more than one, covenants and agrees that their obligations and liability shall be joint and several.

23. PURCHASER’S RIGHT TO REINSTATE AFTER ACCELERATION

If Purchaser defaults and the loan is accelerated, Purchaser shall have the right of reinstatement as allowed under Mississippi law.

24. HEIRS AND ASSIGNS

This contract shall be binding upon and to the benefit of the heirs, administrators, executors, and assigns of the parties hereto.

25. OTHER PROVISIONS

WITNESS THE SIGNATURES of the Parties this the day of , 20.

SELLER:

PURCHASER:

Notary Acknowledgment 1

STATE OF MISSISSIPPI

COUNTY OF

Personally appeared before me, the undersigned authority in and for said county and state, on this day of , , within my jurisdiction, the within named , who acknowledged that he executed the above and foregoing instrument.

Notary Acknowledgment 2

STATE OF MISSISSIPPI

COUNTY OF

Personally appeared before me, the undersigned authority in and for said county and state, on this day of , , within my jurisdiction, the within named , who acknowledged that he executed the above and foregoing instrument.

Seller(s) Name and Address

Name:

Address:

City:

State: Zip:

Phone:

Buyer(s) Name and Address

Name:

Address:

City:

State: Zip:

Phone:

Exhibit A

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What the Mississippi Land Contract Is and When It Applies

A Mississippi Land Contract, commonly called a contract for deed or installment land sale agreement, is a seller-financed real estate contract in which the buyer makes payments over time while the seller retains legal title until the purchase price is paid in full. The contract sets purchase price, down payment, payment schedule, interest, escrow for taxes and insurance, default remedies, and transfer conditions. Although parties may execute such agreements privately, recording, notarial formalities, and clear property descriptions are critical to protect both buyer and seller and to put third parties on notice.

Why Parties Use a Mississippi Land Contract

Land contracts enable flexible seller financing, permit buyers with limited access to mortgage credit to purchase property, and let sellers retain title until full payment. They can streamline closing and tailor repayment terms while requiring careful drafting to manage tax, recording, and default risks.

Why Parties Use a Mississippi Land Contract

Typical Users of a Mississippi Land Contract

The agreement is used by individual buyers and sellers, small investors, and real estate professionals who arrange owner financing.

  • Buyer — An individual or entity purchasing property via installment payments and seeking occupancy before legal title transfer.
  • Seller — Property owner providing financing, retaining legal title as security until the buyer completes payments.
  • Real estate professionals and attorneys — Draft, review, and advise on recording, tax consequences, and default remedies.

Parties often engage real estate agents or attorneys to confirm terms, recording needs, and protections before signing.

Step-by-Step: Completing a Mississippi Land Contract

Follow these steps to prepare, execute, and protect a land contract in Mississippi.

  • 01
    Draft Terms: Define price, down payment, schedule, and interest.
  • 02
    Add Protections: Include default remedies, escrow, and insurance clauses.
  • 03
    Notarize/Record: Notarize signatures and record where appropriate.
  • 04
    Deliver Copies: Provide fully executed copies to both parties.

Essential Provisions to Include in a Professional Agreement

A robust land contract anticipates payment defaults, transfer mechanics, and third-party claims; each feature below reduces ambiguity and legal risk.

Title Retention

State that legal title remains with the seller until full payment and define the precise event that triggers transfer of legal title.

Payment Terms

Specify principal, interest rate, payment dates, acceptable payment methods, late fee formula, and prepayment terms without ambiguity.

Default Remedies

Describe cure periods, acceleration rights, repossession or forfeiture rules, and whether seller may pursue judicial foreclosure or forfeiture under Mississippi law.

Taxes and Insurance

Allocate responsibility for property taxes, assessments, and insurance; set escrow procedures, notices for delinquency, and reimbursement rules.

Recording and Notice

Address whether the contract will be recorded, who pays recording fees, and how notices are to be delivered to protect priorities.

Governing Law and Disputes

Identify Mississippi law as the governing statute and include dispute resolution methods such as mediation or venue for litigation.

Required Information Snapshot

Property Address: Street, city, ZIP
Legal Description: Metes and bounds or lot/block
Buyer Name: Full legal name
Seller Name: Full legal name
Purchase Price: Total dollar amount
Payment Schedule: Amount, frequency

Common Preparation Mistakes to Avoid

  • Using an informal street address or general description instead of the recorded legal description can render the contract ineffective for recording and title searches.
  • Failing to specify who pays taxes and insurance often causes disputes and missed payments — clearly allocate responsibilities and escrow arrangements.
  • Omitting default cure periods, acceleration clauses, or possession procedures leaves both parties unsure of remedies and increases litigation risk.
  • Not verifying party names or entity authority (signer lacks signing authority) can create voidable contracts and delay recording or enforcement.

Legal Risks and Consequences of Errors

Recording Omissions: Loss of priority
Tax Liability: Unexpected unpaid tax exposure
Title Disputes: Clouded title claims
Enforcement Delay: Litigation needed to cure defects
Invalid Signatures: Contract may be voidable
Foreclosure Complexity: Longer, costlier remedies

How Electronic Completion and Delivery Typically Works

Electronic workflows can be used to prepare, sign, notarize (RON), and distribute a Mississippi Land Contract while preserving an audit trail and copies for all parties.

  • Prepare Document: Upload and place fields
  • Set Authentication: Choose email, SMS, or ID check
  • Signer Reviews: Signer inspects and signs
  • Record Audit Trail: System captures time, IP, actions

Typical Digital Workflow Settings for a Land Contract

Configure document fields, signer authentication, and notarization options before sending to ensure compliance and an auditable record.

Field Configuration
Authentication Method Email link with optional SMS code for signer identity verification
Notarization Option Enable RON where permitted or require in-person notarization
Conditional Fields Show transfer language only after full payment fields completed
Notifications Reminders and completion receipts to all parties

Platform and File Requirements for eSigning and eNotarization

Use platforms that support PDF and DOCX, audit trails, and optional notarization workflows to maintain evidentiary weight.

  • Formats: PDF, DOCX supported
  • Integrations: CRM and cloud storage hooks
  • Authentication: Email, SMS, or KBA options

eSignature Vendor Pricing and Feature Comparison for Document Workflows

Comparison of common eSignature vendors and core plan indicators to consider when managing Mississippi Land Contract workflows; signNow is listed first per vendor ordering rules.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies Varies Varies Varies
Bulk Send Yes Yes Yes Yes Yes
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Frequently Asked Questions About Mississippi Land Contracts

Answers to common questions about enforceability, recording, electronic signing, rescission, and typical pitfalls when using a land contract in Mississippi.


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