Receipt for Refundable Security Deposit - Used Car

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Receipt for Refundable Security Deposit - Used Car Powered By Docstoc
					DATE RECEIPT FOR REFUNDABLE DEPOSIT
Received of [Buyer’s Name], hereinafter referred to as "Buyer", the sum of [Deposit Amount] ($X,XXX.XX) as REFUNDABLE DEPOSIT toward the purchase of [Item] to be sold to Buyer by [Seller’s Name], hereinafter referred to as "Seller", owner of said property, on or before the [day] day of [month], 20XX, for a total price of [total sale amount] ($XX,XXX.XX), this REFUNDABLE DEPOSIT being a part thereof. Seller shall return REFUNDABLE DEPOSIT if deemed necessary by Buyer based upon the opinion, judgment, and advice of Buyer’s mechanic. Buyer understands, acknowledges and agrees that if he fails to pay to Seller the remaining [remaining amount] ($XX,XXX.XX) due by the above date, said REFUNDABLE DEPOSIT shall be returned by Seller. Seller hereby agrees in consideration of payment of said REFUNDABLE DEPOSIT to withdraw said vehicle from the market until the above date and to transfer title to said vehicle to Buyer upon receipt of the remaining amount due. Seller acknowledges receipt of the sum of $X,XXX.XX paid by Buyer.

SELLER

__________________________ [Seller Name] [Seller Address] [Seller City]. [ST] XXXXX

BUYER

__________________________ [Buyer Name] [Buyer Address] [Buyer City]. [ST] XXXXX

NOTICE
The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.


				
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Description: Template for creating a receipt and acknowledgment of a refundable deposit for a used car sale from a private party pending an inspection by a mechanic. Not meant to be a legal document, more of a personal record.