land sale contract

land sale contract
Contract for the purchase and sale of land upon execution of which title is transferred. Term commonly refers to an installment contract for the sale of land whereby purchaser (vendee) receives the deed from the owner (vendor) upon payment of final installment. The vendor retains legal title to the property (deed) as security for payment of contract price.
May also be called "contract for deed", or "installment land contract"

Black's law dictionary. . 1990.

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  • land sale contract — Contract for the purchase and sale of land upon execution of which title is transferred. Term commonly refers to an installment contract for the sale of land whereby purchaser (vendee) receives the deed from the owner (vendor) upon payment of… …   Black's law dictionary

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