Under a land sales contract,which of the following is true?
A) A third-party lender provides financing for the purchase of a piece of property.
B) Credit is extended directly by the seller to the buyer,with the buyer not receiving a deed from the seller until the debt obligation is fully satisfied.
C) Credit is extended directly by the seller to the buyer,with the buyer receiving a deed immediately and that will become null and void upon default.
D) Land is sold that will not involve the use of a mortgage or deed of trust.
Correct Answer:
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