Recording Of Conditional Sale Contracts in United States

Practical Information

Note: Some of this information was last updated in 1982

The official registration with the proper authorities of a written document nt that establishes the terms and conditions of the contract (in U.S. law) made between buyer and seller in a conditional sale (in U.S. law). In some states, a conditional sale contract may be filed or recorded in the land records, with a description of the land on which the articles have been installed; subsequent purchasers or mortgagees of the real property (in U.S. law) are bound by the recorded conditional sale contract, and the conditional seller may remove the article in the event of nonpayment. If a conditional sale contract is not recorded, subsequent purchasers or mortgagees are not bound by it unless they knew of the conditional sale contract. As in the case of prior recorded chattel mortgages, some states do not require subsequent purchasers or mortgagees to search the records for conditional sales contracts. They are bound only if they know of the prior conditional sale.

(Revised by Ann De Vries)

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