Template for Conditional Sale Agreement

A conditional sale agreement is a legal document that outlines the terms and conditions of a sale where the buyer agrees to make payments over a set period of time before becoming the outright owner of the item. This type of agreement is commonly used for the sale of high-value items such as cars, boats, and real estate.

When creating a conditional sale agreement, it is important to use a template that includes all the necessary information and is formatted correctly. Here is a template for a basic conditional sale agreement:

[Insert date]

[Name of buyer]

[Address]

[City, State, Zip Code]

AND

[Name of seller]

[Address]

[City, State, Zip Code]

AGREEMENT

This conditional sale agreement (“Agreement”) is made on [insert date] by and between [name of buyer] (“Buyer”) and [name of seller] (“Seller”) for the sale of the following item(s) (“Item(s)”):

[Insert description of the item(s)]

1. PURCHASE PRICE

The purchase price of the Item(s) is [insert purchase price] (“Purchase Price”). The Buyer agrees to pay the Seller the Purchase Price in the following manner:

[Insert payment plan details]

2. OWNERSHIP

Ownership of the Item(s) will remain with the Seller until the Purchase Price is paid in full. Once the Purchase Price is paid in full, ownership of the Item(s) will transfer to the Buyer.

3. DEFAULT

If the Buyer fails to make payments in accordance with the payment plan outlined above, the Seller may repossess the Item(s) and retain any payments made by the Buyer up to that point.

4. WARRANTIES

The Seller warrants that they have the right to sell the Item(s) and that the Item(s) is free of any liens or encumbrances.

5. GOVERNING LAW

This Agreement will be governed by and construed in accordance with the laws of [insert state/country].

6. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Buyer and the Seller and supersedes all prior negotiations, understandings, and agreements.

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first above written.

BUYER: ________________________________

SELLER: ________________________________

Using a well-formatted template like the one above can help ensure that all necessary information is included in a conditional sales agreement, while also making the document easy to read and understand. As with any legal document, it is important to have a lawyer review the agreement to ensure it meets all applicable laws and regulations.