land contract

1. a contract for the purchase and sale of land.
2. a contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid, the seller retaining legal title to the land as security for the payments.

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Universalium. 2010.

Look at other dictionaries:

  • land contract — n: land installment contract at contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • land contract — n. a contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid, at which time the seller transfers his interest in the… …   English World dictionary

  • Land contract — A land contract (sometimes known as a “contract for deed” or an “installment sale agreement”) is a contract between a seller and buyer of real property in which the seller provides financing to buy the property for an agreed upon purchase price… …   Wikipedia

  • Land Contract — An agreement between a buyer and seller of property in which the buyer makes payments toward full ownership (as with a mortgage), but in a land contract, the title or deed is held by the owner until the full payment is made. This type of contract …   Investment dictionary

  • land contract — 1. a contract for the purchase and sale of land. 2. a contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid, the… …   Useful english dictionary

  • land contract — See land sale contract …   Black's law dictionary

  • land contract — A contract whereby one party agrees to sell and the other to purchase real estate. Pike Rapids Power Co. v Minneapolis, St. P. & S. S. M. R. Co. (CA8 Minn) 99 F2d 902. A contract for the transfer of the title to real estate in consideration of a… …   Ballentine's law dictionary

  • land contract — Contractual arrangement used in some states under which a buyer purchases real estate from a seller over a period of time, usually by making periodic installment payments. Title is not conveyed to the buyer until the final payment is made. Also… …   Financial and business terms

  • installment land contract — Type of contract by which buyer is required to make periodic payments towards purchase price of land and only on the last payment is the seller required to deliver a deed. Also called a contract for deed or long term land contract. See also land… …   Black's law dictionary

  • assignment of seller's interest in land contract — A document used in real estate loans when the mortgaged property is subject to a land contract or article of agreement under which it is being sold over time to a third party. If the borrower defaults, the assignment of the land contract gives… …   Financial and business terms

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