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Assignment Of Land Contract Form. This is a Wisconsin form and can be use in Real Estate Statewide.
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State Bar of Wisconsin Form 15-2003
ASSIGNMENT OF LAND CONTRACT
Document Number
Document Name
The undersigned ("Assignor," whether one or more), for a valuable
consideration, assigns and conveys to
("Assignee," whether one or more) the interest identified below in a Land
Contract dated
, executed by
as Vendor to
Recording Area
as Purchaser on real estate in
County, Wisconsin
("Property"), together with (the indebtedness therein referred to and) all the
interest of Assignor in the Land Contract and the Property, which Land Contract
was recorded in the Office of the Register of Deeds of said County, in (Reel)
(Vol.)
of Records, at (Images) (Pages)
, as Document No.
.
The Property which is subject to this Assignment is described as:
Name and Return Address
Parcel Identification Number (PIN)
This
homestead property.
(is) (is not)
,
Assignor warrants that: there is now owing and unpaid on said Land Contract the sum of $
and also interest at
% per annum from
; Assignor is the owner of the above-described
interest in the Land Contract and has good right to assign the same; and the condition of the title of Assignor's interest is
the same as at the time of recording the Land Contract.
CHOOSE ONE OF THE FOLLOWING TYPES OF ASSIGNMENT:
1.
ASSIGNMENT OF PURCHASER'S INTEREST [CHECK BOX AT LEFT IF APPLICABLE].
By accepting and recording this Assignment, Assignee agrees:
[CHOOSE ONE OF THE FOLLOWING OPTIONS; IF NEITHER IS CHOSEN, OPTION A SHALL APPLY]
A. Assignee assumes and agrees to pay the obligations secured by the Land Contract, to comply with all
terms and conditions of the Land Contract, and to hold harmless and indemnify Assignor as to the
performance of all obligations, terms and conditions of the Land Contract.
B. This Assignment is given for collateral purposes only, and Assignor agrees to continue to make all
payments required on the Land Contract and to comply with all terms and conditions of the Land
Contract. Assignor retains the right to occupancy of the Property. This Assignment is intended to
have the same effect as a mortgage. In the event of a default on the part of Assignor on the obligation
secured, Assignee's remedy shall be a foreclosure in accordance with Chapter 846 of the Wisconsin
Statutes, for which purpose Assignee agrees to the provisions of Sections 846.101 and 846.103 of the
Wisconsin Statutes, as applicable.
© 2003 STATE BAR OF WISCONSIN
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2.
ASSIGNMENT OF VENDOR'S INTEREST [CHECK BOX AT LEFT IF APPLICABLE]
By accepting and recording this Assignment, Assignee agrees:
[CHOOSE ONE OF THE FOLLOWING OPTIONS; IF NEITHER IS CHOSEN, OPTION A SHALL APPLY]
A. This is a complete assignment of Vendor's interest in the Land Contract. The Purchaser under the
Land Contract is instructed to make all further payments to Assignee upon receipt of a copy of this
instrument.
B. This assignment of the Vendor's interest in the Land Contract is for collateral purposes. Assignor
shall be allowed to continue to receive the scheduled, periodic payments(s) on the Land Contract. Any
extra or balloon payments shall be made payable to Assignor and Assignee. In the event of a default
by Assignor on the obligations secured by this Assignment, Assignee has the right to receive all
payments on the Land Contract upon notification to the Purchaser.
Dated
.
ASSIGNOR:
ASSIGNEE:
(SEAL)
(SEAL)
*
*
(SEAL)
(SEAL)
*
*
ACKNOWLEDGMENT
AUTHENTICATION
Signature(s)
STATE OF WISCONSIN
authenticated on
.
COUNTY
)
) ss.
)
Personally came before me on
the above-named
*
TITLE: MEMBER STATE BAR OF WISCONSIN
(If not,
authorized by Wis. Stat. § 706.06)
,
to me known to be the person(s) who executed the foregoing
instrument and acknowledged the same.
THIS INSTRUMENT DRAFTED BY:
*
Notary Public, State of Wisconsin
My Commission (is permanent) (expires:
)
(Signatures may be authenticated or acknowledged. Both are not necessary.)
NOTE: THIS IS A STANDARD FORM. ANY MODIFICATIONS TO THIS FORM SHOULD BE CLEARLY IDENTIFIED.
FORM NO. 15-2003
ASSIGNMENT OF LAND CONTRACT
STATE BAR OF WISCONSIN
* Type name below signatures.
© 2003 STATE BAR OF WISCONSIN
American LegalNet, Inc.
www.USCourtForms.com