Rhode Island Land Contract Template

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Updated June 18, 2022

A Rhode Island land contract serves as a purchase agreement between two parties transferring ownership of vacant land in the State of Rhode Island. The seller and buyer can record all terms pertaining to the transaction, including the agreed-upon purchase price as well as the land/lot’s legal identifiers. Both parties must negotiate the deal until reaching a mutual agreement. The buying party may perform surveys of the land before providing their signature on the contract, ensuring the land’s condition for future use. Upon finalizing an accord, the parties shall execute the document and schedule a closing date to transfer the property’s deed and exchange applicable funds.

Real Estate Sales Disclosure Form (RI Gen L § 5-20.8-2) – Sellers of improved real estate must provide potential buyers with a detailed description of the material condition affecting said property. This form must be completed and given to buyers prior to executing the purchase contract. Unimproved/raw land is exempt from this requirement.

Where to Record? (RI Gen L § 34-11-1) – All deeds must be filed with the Recorder of Deeds located in the county where the property is located (See List of Municipal Websites).

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Other Versions (2)


Rhode Island Assoc. of REALTORS Version (Vacant Land)

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Rhode Island Assoc. of REALTORS Version (Commercial Real Estate)

Download: Adobe PDF

 

 

 

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Commercial Purchase Agreement

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