Notice Of Termination of Contract For Deed {30.4.1}

Form 30.4.1 - NOTICE OF TERMINATION OF CONTRACT FOR DEED. This form is used to inform a purchaser of real property that the seller has begun proceedings to terminate the Contract for Deed due to a default in payment or other contractual obligations. The notice specifies the nature of the default, the amount owed, and the terms under which the contract will terminate, which is typically a specified number of days after service or publication of the notice. The notice provides the purchaser with an opportunity to remedy the default by paying the amount owed, including service costs and attorney’s fees, or by securing a court order to suspend the termination process. If the purchaser does not take action within the time frame, the contract will terminate, leading to the loss of all payments made, the right to possess the property, and potential eviction. The notice also includes a section for an affidavit confirming service of the notice, which can be completed by the person serving the notice or by the sheriff, and includes provisions for personal service, substituted service, or service on an occupant of the property. Minn. Stat. 559.21. www.FormsWorkflow.com