Land Contract

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • instalment sale agreement
  • contract for deed

Acronyms

  • LC

Definition of Land Contract

  1. A legal contract or agreement for the sale of property where the buyer takes possession while making payments, but the seller holds the title until full payment is received.

Related Terms and Acronyms

  • Contract For Deed (CFD) 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. Also called a land contract.
  • 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.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • 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."
  • Unimproved Land Contract of Sale (ULCOS)Acronym,
    • Certificate of Sale Definition,
      • An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
    • Land Title Definition,
      • The legal document conveying title to a property.
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