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 ?

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

As a result of the above land contracts, the company now has nine executed purchase and sale agreements with nine different buyers, which in the total reflect the potential sale of about 2,100 acres, or approximately 26% of its land holdings with proceeds of approximately USD75m.

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

Framework agreements for construction management of land contracts.

Framework Agreements, Consultants, Construction Management, Land 2017

Real estate developers, along with the Ministry of Housing, have all recently called for the re-writing of Egyptian land contracts.

Developers demand balanced land contracts

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

MPs unanimously approved the Immovable Property Sales (Specific Performance) Law, thus giving land contracts power over any mortgages owed to the banks by the property's seller.

Parliament: contracts will trump mortgages under new property law

But while it's ultimately up to clubs who they sign - and can afford to sign - PFAI chief Stephen McGuinness is hopeful many players will land contracts during the transfer window.

PFAI NOT BANKING ON CONTRACTS

The laws concerning land contracts vary from state to state.

The Greenhorn's guide to homesteading: part II: buying the farm

Topics include one alcohol prohibition in Iceland, American architecture in Helsinki, Swedish perceptions of Congolese objects at a missionary exhibition in 1907, Norwegian missionaries' perceptions of themselves and the Other, nineteenth century images of northern indigenous, Nordic expeditions to the South Seas, and the use of home land contracts by Swedes in Russia.