land contract

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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.

Land Contract

A contract in which a buyer agrees to purchase real property from the seller for a certain price and on a certain payment schedule, but in which the seller retains title to the land until all payments have been made. A land contract may or may not amortize payment evenly, so that it may require a large balloon payment at some point in order to transfer title. Land contracts are most common either for buyers who would not qualify for a normal mortgage or for purchases made for investment purposes. In the United States, different states have different regulations and restrictions on land contracts. See also: Lease with an option to buy, Rent-to-own.

land contract

Also called a bond for title, land sale contract or contract for deed. It is a financing arrangement for real property,in which the seller holds the financing and the legal title and does not give the buyer a deed until all payments have been made in full.For many people with the inability to secure financing, it is the only practical way for them to own a home. The practice is perilous, though, and could result in the loss of the property, and substantial money spent over the years, simply because of one late payment.

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land sale contract

References in periodicals archive ?

Carbon Holding has signed 71 contracts and agreements, including land contracts, project consultant contracts and license owner contracts under the umbrella of financial and legal advisors of the Export-Import Bank of the United States.

Carbon Holding disbursed $220m for Tahrir Complex project so far

I am very concerned about all these land contracts on the same property.

Questions too odd to ignore

Because land contracts tend to favor sellers, buyers must protect themselves.

THE CURRENT PREDATORY NATURE OF LAND CONTRACTS AND HOW TO IMPLEMENT REFORMS

Even those who have preserved copies of land contracts and government receipts proving their ownership of farmland and property in Myanmar will find it difficult to secure their resettlement in future.

Myanmar tragedies

After moving into the region, Crossbarfx began working with the North East England Chamber of Commerce, which has helped the company land contracts with LTC International Logistics and Business & Export Credit Solutions.

Foreign exchange company seeing business grow

Additionally, the company revealed two new land sales contracts (the land contracts): for about 21 acres of land for a gross sales price of an estimated USD5.78m or approximately USD275,000 per acre, surrounding the RaceTrac convenience store under construction at present in the southeast corner of LPGA Boulevard and Williamson Boulevard, in Daytona Beach, Florida.

Consolidated Tomoka declares sale of subsurface interests for USD2.1m in Osceola County

A contract is shorthand for "contract for deed," also advertised as "rent to buy," "seller financing," or "installment land contracts." These are not inherently predatory, as any northern Midwesterner will tell you.

Private equity: the new neighborhood loan sharks: veterans of the contract buyers league hit the doors again

Some 107 Glastir Common Land contracts and 269 Woodland Creation contracts have been awarded, but out of 1,250 expressions of interest, just 120 carbon reduction (ACRES) applications were accepted.

New blow for Glastir scheme

Summary: Libya may be months from a new government, but the still-infrequent international flights to Tripoli are packed with businesspeople looking to land contracts with this oil-rich North African state.

Turks, Europeans Lead Charge On Libyan Investment

Nanya is also expected to land contracts via Japanese partner NGK Spark Plug, which has directly received substrate contracts from AMD.

AMD's bright outlook likely to boost Taiwan's supply chain

Despite the diplomatic efforts of Washington to push through the deal, privately run US firms such as Westinghouse and GE-Hitachi have so far lost out in the race to land contracts to build new reactors.