Personal real estate deal

[Heidi-Marie Jones]

Hello.

I am buying 40 acres of vacant land from my moms husband.  He is selling it to me for $150,000 with the plan that I pay him $400 per month for 30 years with zero interest.  If he dies mybpayment go to my mom to support her. If they both die I stop paying and fully own the property.

What are the best steps to go about this to make sure I am fully protected.  He is very kind to me but is a hard man and someone that i believe would be nasty if something went wrong.  So I need to make sure I have everything done right to protect myself the best I can.

I was told to have a mutual release, i also assume it would be a contract done up by a lawyer?  What all do i need to do, have written up and sign to be fully protected?

I figure this is a good one to do because it will teach me right from the start how to protect myself. 

Thanks for all your knowledge and advice in advance.

Heidi