Most Commonly Used Contract Templates by Individuals for Their Private Interests

In our daily lives, we interact with various individuals and undertake actions that require formalization through a contract. Why? To benefit from various goods and services while ensuring that our rights and interests are protected. From apartment rental agreements to car free lease contracts, or loan agreements, contracts between individuals are essential for establishing and regulating relationships and transactions that facilitate the management of private life.

When and what types of contracts do individuals most commonly sign?

Individuals use rental contract templates to solve housing issues.

The lease agreement is the most commonly used legal instrument for a property owner to transfer the right to use the property to a tenant, in exchange for payment of a sum of money known as rent.

The lease agreement is popular especially among students who move from their hometown to the city where their university is located and want to live or use a space for a specific period of time, or young families who have not yet purchased their own home.

Recommended rental contract templates drafted by lawyers set out the rental conditions, methods of payment of monthly rent, duration of the contract, responsibilities of each party, and any restrictions on the use of the property.

Instead of contracting long-term mortgages, use rental contract templates to ensure housing flexibility. But remember: the law provides adequate protection when rental contracts are properly registered with the tax authorities and the associated taxes are paid. Otherwise, you bear the consequences.

Individuals use loan contract templates to transfer sums of money.

When a person (called the lender) lends money or other assets to another person (called the borrower), they want to protect themselves from the risks of non-repayment. With professional loan contract templates, the money you have given to relatives or friends facing unforeseen problems is protected. Loan contract templates specify the amount loaned, the terms of repayment, and, if applicable, any interest or guarantees associated with the loan.

Individuals use sale-purchase contract templates for real estate, cars, and many other goods.

The sale-purchase contract is probably the most commonly used contract. Whenever someone buys a product from a supermarket or places an online order, they have entered into a sale contract or one of its variations. Through the sales contract, unlike the lease agreement, ownership rights over the respective goods are transferred, not just the right to use.

Appropriate sales or presale contract templates detail the sale price, description of the goods, payment conditions, warranties provided by the seller [for eviction or hidden defects], and other relevant clauses for the transaction.

Individuals use free loan contract templates when they want to help their relatives or friends.

The free loan contract is an agreement whereby a person (the lender) temporarily grants the right to use a good (such as a car or an apartment) to another person (the borrower), without transferring ownership and without associated costs. There is no rent. Professional free loan contract templates establish the terms and conditions of use of the asset, as well as the responsibilities of each party regarding its conservation and maintenance over time.

Free loan contract templates are especially popular among individuals who have a close relationship [family, friendship] and help each other out. This is how they end up freely transferring the use of goods they own. Alternatives to free loans contracts can be the execution of sponsorship agreeements.

Individuals use service contract templates to benefit from various professional services.

Are the temperatures high and the air conditioner is not working? Has your washing machine broken down again? You need a service contract. Service contract templates are used when a person or company provides services to another person or entity in exchange for payment. Professional service contract templates detail the nature of the services provided, payment terms and conditions, rights and obligations of each party, as well as expected outcomes.

Why is it recommended that you use professional contract templates as an individual?

Clarity and certainty: contracts provide clarity regarding the expectations and responsibilities of each party involved in a transaction.

Legal protection: contract templates provide legal protection in case of misunderstandings and help you prevent costly and lengthy disputes or litigations.

Guarantee of performance: well-drafted contract templates ensure that each party strictly adheres to the established conditions, guaranteeing a fair execution of the concluded agreement.

Conclusions

Even if you act in private interests, neglecting legal requirements can cost you. Sure, we're not telling you to hire a lawyer whenever you encounter a legal problem. But when entering into contracts, you can protect yourself from abuses in less than 5 minutes by downloading professional contract templates from Docs & Deeds. You complete the predefined templates with your information and you're ready to use the contract. And if you want to speak with a specialist, you can schedule a legal consultation within a timeframe convenient for you in just a few seconds.