land contract


Installment contract drawn between a buyer and a seller for the sale of property, in which ownership of the property is not transferred until all the payments have been made.

Use land contract in a sentence

You should always make sure you know exactly what the land contract says and follow it exactly as it says.

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We had a land contract written up and were ready to get going with the deal we had been discussing for a long time.

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When my boss bought a new house, he could not take possession of it until he had made all payments on the property because he did not use a lawyer and stupidly signed a land contract.

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