Document background
The Owner Financed Sales Contract is utilized in Danish property transactions where traditional bank financing is either not preferred or not available. This comprehensive document serves a dual purpose: it facilitates the transfer of property ownership while simultaneously establishing a financing arrangement between the seller and buyer. The agreement must comply with Danish property law, including the Danish Contracts Act, Property Formation Act, and Registration of Property Act. It is particularly relevant in situations where sellers are willing to accept periodic payments instead of a full upfront payment, often making property purchases more accessible to buyers who might not qualify for traditional mortgage financing. The document includes crucial elements such as property details, purchase price, payment terms, interest rates, security arrangements, and remedies in case of default, all structured within the framework of Danish legal requirements.
