Land Contract, Land Purchase Contract, & Contract for Deed
"Document must have: Name of the seller (KRS 382.200) Name of the buyer and their mailing address (KRS 382.335) Legal description of the property (Common Law and OAG 81-100) Source of title (KRS 382.110) Preparation Statement (KRS 382.335)
The clerk shall request a return mail address (KRS 382.240) Document must be: signed and acknowledged (notarized) by both parties. (Since this document is analogous to a mortgage and a conveyance it needs to be signed by both parties.) (Contract Law and KRS 382.130 and OAG 95-12) Transfer tax is then collected on the deed. It is not collected on the contract. Legal process tax is collected because the land contract is analogous to a mortgage and a conveyance has occurred. OAG 95-12 and Sebastin v. Floyd"