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Land contract |
Also found in: Wikipedia | 0.06 sec. |
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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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? Mentioned in | ? References in periodicals archive | |
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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. |
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