Call us today: 1-321-241-4360 for Lauren or 1-941-921-6450 for Rich
Alaska
Note with a Deed of Trust, but may also include Contract for Deed.
Arizona
Deed of Trust and Note with occasional Real Estate Contract
Arkansas
Mortgage and Note with occasional Contract for Deed
California
Generally a Deed of Trust and Note
Colorado
Generally a Note and Deed of Trust but may include a Real Estate Contract
Connecticut
Note and Mortgage generally used here
Delaware
Note and Mortgage
Florida
Note and Mortgage and occasionally Articles of Agreement or Agreement for Deed
Georgia
Generally a Note and a Deed to Secure Debt (which is essentially a mortgage)
Hawaii
Most often lien documents are a Note and Deed of Trust
Idaho
Most often Contract for Deed and sometimes a Note and Deed of Trust (mortgage and note are also legal but uncommon)
Illinois
Most often a Contract for Deed and sometimes a Note and Mortgage (deed of trust and note are also legal but uncommon)
Indiana
Most often a Contract for Deed and sometimes a Note and Mortgage
Iowa
This is the only state in the USA which does not have title insurance statute. Most seller financed transactions appear as Contract for Deed but could also be a Note and Mortgage (deed of trust and note are also legal, but uncommon)
Kansas
Most often a Contract for Deed and sometimes a Note and Mortgage
Kentucky
Most often a Contract for Deed and sometimes a Note and Mortgage
Louisiana
This is the only state that the basis for law is not English, it is French, so some things are handled differently. Most sellers carry back a Note and Mortgage.
Maine
Seller Carry Back loans are most commonly Note and Mortgage.
Maryland
I have seen seller carry documents both in Deed of Trust and Note and Mortgage and Note. (Deed of Trust and Note are also legal, but less common)
Massachusetts
Most seller financing is on a Note and Mortgage
Michigan
Michigan has a Land Contract Act and most seller financing is on a Land Contract. Maximum interest by law on a Land Contract is 11%. Sometimes we see a Note and Mortgage.
Minnesota
These are generally Contract for Deed. Have occasionally run in to a Note and Mortgage.
Mississippi
This state uses Deed of Trust and Note to secure lender’s interest.
Missouri
The seller financed documents are generally Contract for Deed or Deed of Trust and Note.
Montana
The lien documents here are commonly called a Montana Trust Indenture with Note. Occasionally I run in to a Real Estate Contract. (Mortgage and Note are also legal, but uncommon)
Nebraska
Call me directly if you are holding a note in Nebraska
Nevada
This is a Deed of Trust and Note state.
New Hampshire
Most lien documents are Note and Mortgage
New Jersey
Most lien documents are Note and Mortgage
New Mexico
Generally seller financing is in form of a Real Estate Contract. Have also purchased a Note and Mortgage
New York
This is a Note and Mortgage State. Sometimes we see a Contract for Deed
North Carolina
These are generally a Deed of Trust and Note. In North Carolina title companies don’t handle closings so you need a closing attorney.
North Dakota
Seller finance is usually a Contract for Deed. We have seen a Deed of Trust and Note also.
Ohio
This is a Mortgage and Note state. Occasionally we see a Contract for Deed.
Oklahoma
Most of the seller financed documents are a Contract for Deed. Deed of Trust and Note are also used. (Mortgage and Note are legal, but uncommon)
Oregon
Deed of Trust and Note. Sometimes a Contract for Deed. (Mortgage and Note are legal but uncommon)
Pennsylvania
This state uses Note and Mortgage for lien documents. Occasionally see Contract for Deed.
Rhode Island
This state uses Note and Mortgage for lien documents.
South Carolina
This state uses Note and Mortgage for lien documents.
South Dakota
Most seller financed documents are Contract for Deed.
Tennessee
Deed of Trust and Note are most common, followed by Contract for Deed (Note and Mortgage are also legal but uncommon)
Texas
Deed of Trust and Note are most common. Contract for Deed was the most common until about 2001 when the Texas Legislature put restrictions on Sellers and required many disclosures. If these new rules are not adhered to, the Contract could be voided by law.
Utah
Deed of Trust and Note are most common forms
Vermont
This state utilizes Mortgage and Note
Virginia
Deed of Trust and Note are most common, followed by Contract for Deed
Washington
Most seller carry documents are Deed of Trust and Note, followed by Real Estate Contract
West Virginia
Mortgage and Note are most common seller carry documents here. (Deed of Trust and note are legal but uncommonb)
Wisconsin
We most commonly see seller finance instruments as Contract for Deed, but Note and Mortgage are legal and are sometimes used.
Wyoming
Contract for Deed is what we see most commonly, followed by a Deed of Trust and Note (mortgage and note are also legal but uncommon)