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hank10 · Feb 15, 2009, 02:34 PM

I live in GA and my son wants to buy our property through a Contract for Deed transaction. We actually had an agreement and he has been making payments on the house since 2007. We now want to fill out a Contract for Deed and file it through the courthouse so this document become legal.

Can anyone please explain the process to do this? Do I need a broker or attorney? Do I need a specific form? Do I need any other documents with this contract for deed agreement to submit to the court?

Thank You!

Fr_Chuck · Feb 15, 2009, 02:53 PM

In Georgia there is no requirement it be filed in the recorder of deed office.

It is a requirement that it be in writing. So if there is any agreement that is not in writing, it is not valid and can not be inforced.

If you want to file it ( against no reason at all to do so) but if you want to, you take a copy to the recorder of deed and file it with them.

hank10 · Feb 15, 2009, 03:03 PM

Thanks chuck! But, I'm trying to apply for Medicaid and Medicaid is saying that I need to take my agreement to the court, otherwise the agreement we have is not valid.

So you are saying that we don't really need to file a contract for deed? Can we just file the agreement that we have?

Fr_Chuck · Feb 15, 2009, 03:26 PM

If your current agreement is in writing and legal you can file it. In GA it has to show the price the house is being sold for, the amount of each monthly payment ( or quarterly payment and so on) if not being paid monthy and the total number of months it is going to be paid out.

It has to have a clause to tell what happens if he is late and/or does not pay.

And it has to show who the current owner is and at what point it is turned over.

If it is for a shorter time frame than a full term, the ballon paymnet due at the end has to be listed also.

But not to double say what I did in the other post, this does not transfer ownership even if recorded, it merely shows it and works like a lien on the property ( not exactly but shows others this in in effect) you are still the legal owner till it is paid off.