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Legal Description
The Seller agrees to sell to the Purchaser
only a carefully described parcel of land and here is the place in the
contract where the property is given its legal description. The city,
village, or township of the property is noted, together with the country and
state.
Along with the actual "soil" sold, the
Seller also conveys such things as any buildings, easements, tenements,
hereditaments, improvements and appurtenances. (See the Glossary for a quick
definition of these items.) In short, the Seller conveys everything that is
permanently affixed to the property sold.
Helpful Hints
Next to the legal description on your contract, write in the parcel
number (also known as a "tax ID" number or a "Sidwell" number) of the
property used by the tax authorities. This makes it easier to check to see
if the taxes on the property have been properly paid by the Purchaser each
year. An annual call to the treasurer of the county where the property is
located is often required in order to find out whether the property tax
payments are up to date. To avoid late payment penalties and the eventual
sale of your property by the state for back taxes, make sure to check each
year that the property taxes are being paid!
Believe it or not, many contracts do not
mention the actual street address of the property sold. For future
reference, add it here, next to the legal description.
Have more questions? Try the RAM Funding
Note
Buyer Questions page. Unfamiliar with some of the terms used by
cash flow note buyers? Try the RAM
Cash Flow Note Definitions page.
To find out how we calculate the value of your cash flow, visit the
Present Value page.
You can find out about our
Cash Flow Purchase Options too.
What is a Cash Flow?
click here What is a Cash Flow Broker?
click here
If you still need something not covered
elsewhere, you can use our
Online Question Form or even
better yet -
Call one of our cash flow note professionals TODAY at
1-800-397-3893.
Or use our handy cash flow fax form
click here, or get your free online
quote click here!
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