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Land contract
(redirected from Contract for deed)

    Also found in: Wikipedia 0.06 sec.
Land contract
A method of real estate financing; a mortgage-holding seller finances a buyer by taking a down payment and subsequent payments in installments, but holds the title until the mortgage is fully repaid.
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The accommodation party must hold legal title to the property [during the transaction] and also hold other indicia of ownership that are recognized under commercial law, such as a contract for deed.
IRS blesses reverse exchanges by MILLER, DOUG / Real Estate Weekly
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