These forms may be used if the sponsor of a condominium project is unwilling or unable to sell the units for cash. In such case, the sponsor may decide to accept the purchaser's agreement to pay the unpaid balance of the purchase price over a period of time, evidenced by the purchaser's promissory note, and a mortgage on the unit sold to the purchaser as security for payment. These forms may be adapted for use by any owner of a condominium unit who desires to sell to a subsequent purchaser on the purchaser's credit.
Please click the link above to download your free copies of the forms (both the mortgage note form and mortgage form are contained in a single document)