Contract For Deed

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • arrangement
  • title
  • agreement
  • note
  • legal document
  • contract
  • property

Acronyms

  • CFD

Definition of Contract For Deed

  1. An agreement for the sale of property where the buyer takes possession while making payments, but the seller holds title until full payment is received. Also called a land contract.

Related Terms and Acronyms

  • Sale-leaseback Definition,
    • A transaction in which the seller transfers the title to the buyer, then rents the property from the new owner. Generally not done in Canada, more an American practice.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Land Title Definition,
    • The legal document conveying title to a property.
  • Claim Bank,
    • A creditor's assertion of a right to payment from a debtor or the debtor's property.
  • Purchase Agreement Bank,
    • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
  • Bill of Sale (BS) Acronym, Important,
    • A written document that serves as evidence of the transfer of title to personal property.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • Housing Discrimination Definition,
    • The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
  • Seller Carryback Definition,
    • A form of financing in which the seller of a property accepts a down payment and agrees to accept payments until the property is paid for.
  • Sales Contract Definition,
    • A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
  • Note Bank,
    • A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
  • Deed (D) Acronym, Very Important,
    • A document that provides title to property and is filed with a country recorder.
    Used to transfer ownership of assets, often land or automobiles.
  • Covenant Definition,
    • A promise made in a contract or property deed.
  • Land Contract (LC) Acronym,
    • An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
  • Contract to Purchase Definition,
    • A document in which a property's buyer and seller approve the price and other terms of the transfer of title. Also known as an agreement of sale, a purchase contract or a sale contract.
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