Download Kansas Purchase Agreement Form [PDF]

The Kansas purchase agreement is a legal document the seller and the buyer use to transfer ownership over a certain item.

Although this document doesn’t transfer any legal rights between the parties, it provides a framework under which the sale and purchase of an item are going to be completed. This can prevent misunderstandings and potential disputes between the parties.

Kansas Purchase and Sale Agreement Form

The main parties to the Kansas purchase agreement are the seller and the buyer. The seller's and buyer's main obligations are the transfer of ownership of a property and the payment of the purchase price.

Therefore, this type of document usually includes information about the seller and the buyer, the property description, the purchase price, financing details, contingencies, and other terms and conditions connected to the property transfer.

The seller and buyer can use the purchase and sales contract for more complex transactions where they need to determine many aspects of the purchase and sale of an item, like with a real estate purchase. However, they can also use the purchase agreement for any item with a purchase price over $500.

Purchase Agreement Kansas Laws & Requirements

The Kansas legislature doesn’t set any requirements regarding the purchase agreement form. However, if the seller and the buyer are transferring real estate ownership, they must include a few disclosures in the purchase agreement or as a separate document.

Purchase Agreement Required Disclosures in Kansas

In this section, you can see the list of disclosures that must be included in the Kansas purchase agreement template:

Mandatory Disclosures

Lead-Based Paint Disclosure: The federal law provides the requirement for the seller to inform the buyer about any lead-based paint hazards at the property. This is required for every property built before 1978 or for properties with known lead-based paint hazards.
Seller’s Property Condition Disclosure Statement: The seller must disclose all the material defects of the property, possible environmental hazards, and the overall condition of the property by filling out the disclosure form. (§ 58-30.106)
Convicted Persons Disclosure Statement: The seller of the property must inform the buyer about the regulations regarding the registration of persons convicted of sexually violent crimes by including the statement in the purchase agreement. (§ 58-3078)
Radon Disclosure Statement: The Kansas purchase agreement must include the disclosure statement about the radon as provided in § 58-3078a.
Special Assessment or Fee Disclosure: If there is a special assessment of fee applicable to the property transaction in Kansas, the seller must inform the buyer about this fact. (§ 12-6a20)

Common Types of Purchase Agreements in Kansas

This section provides all the types of purchase agreements used in Kansas:

Types of Purchase Agreement

Residential real estate purchase agreement. Most often used type of purchase agreement. It is used to determine the conditions for selling and purchasing a house, apartment, or other kinds of property used for residential purposes.
Commercial real estate purchase agreement. You can use this type of purchase agreement to sell and purchase office space, warehouses, manufacturing facilities, and other kinds of commercial properties.
Vehicle purchase agreement. Known as the motor vehicle bill of sale. You can use it to transfer ownership of a car, motorcycle, truck, and other kinds of motor vehicles.
Business purchase agreement. Used to provide terms for transferring the company from the seller to the buyer.
Land purchase agreement. You can use it to provide terms and conditions for the transfer of agricultural, residential, commercial, or other kinds of land in Kansas.
Stock purchase agreement. This type of purchase agreement is used for selling stocks and shares in companies.

Purchase Agreement in Kansas FAQ

Yes, the Kansas purchase agreement is a legally binding document from the moment both the seller and the buyer sign it.
Yes, the Kansas sales agreement needs to state the purchase price. The Kansas sales agreement will not be effective without this element since it doesn’t provide the buyer’s consideration in this legal relationship.
No, purchase and sales agreements in Kansas don’t need to be notarized since the document itself doesn’t transfer any legal rights between the parties.
Yes, the seller can back out of the Kansas purchase agreement only in situations where the buyer has failed to meet the contingencies set in the document.