Alberta property owners, you can help a purchaser buy your property by carrying part of the purchase price under this Vendor Take-Back Mortgage
, also known as a 'purchase money mortgage'.
- This type of mortgage is often used for real estate transactions between family members.
- Under the take-back provisions of the mortgage, all or part of the purchase price for the real estate property will be carried by the seller (vendor), with provisions for the seller to take back the property if the buyer fails to make the payments or meet its other obligations under the mortgage.
- This template is fully editable to fit your specific circumstances.
The Alberta Vendor Take-Back Mortgage
is provided in MS Word format.