Land contracts let home buyers make monthly payments directly into a seller's pocket. Buyers make a deal in writing to pay cash down and chip away at the balance over time. A seller and buyer can change, or amend, any part of a land contract after it is signed. The catch is amendments must be in writing to be legal.
Start the first sentence of your amendment with, "The terms stated herein supersede all conflicting language in the below signed parties' original land contract." Identify the land contract being amended by date and the parties to it. For example, "The land contract being amended was made between John Doe and Jane Smith on Oct. 1, 2010."
State the change directly and clearly. Refer to the paragraph in the land contract that you are amending. For example, "Paragraph 5 is hereby amended so that monthly payments are now due on the 10th day of the month instead of the first."
Have all the original parties to the land contract sign and date the amendment. Have two competent adults witness your signatures and also have the amendment notarized. Arrange for all parties to receive a signed copy.
Record your amendment in the register of deeds where the original land contract is filed. Follow your local recording requirements, such as margin widths, ink color requirements and recording fees. Keep a paid receipt after recording.
Maggie Lourdes is a full-time attorney in southeast Michigan. She teaches law at Cleary University in Ann Arbor and online for National University in San Diego. Her writing has been featured in "Realtor Magazine," the N.Y. State Bar's "Health Law Journal," "Oakland County Legal News," "Michigan Probate & Estate Planning Journal," "Eye Spy Magazine" and "Surplus Today" magazine.