Installment land contract

Installment land contract,

Definition of Installment land contract:

  1. An agreement that obligates the parties involved financially over a period of time but does not involve the transferring of a deed for the property. The buyer is permitted to move into the property and make payments. Once the obligation is satisfied, the seller then records the deed and passes it over to the buyer. It is used as a long-term tool for financing.

Meaning of Installment land contract & Installment land contract Definition