A(n)________ is an installment contract for the purchase of land in which a buyer agrees to pay the purchase price over time and assumes many responsibilities of the owner,but the seller keeps legal title and does not turn over the deed until the purchase price is paid.
A)equity of redemption
B)deed of trust
C)land contract
D)possessory lien

Question

Quizplus · Accepted Answer

In a land contract,the seller keeps legal title and does not turn over the deed until the purchase price is paid by the buyer.If the buyer defaults,the seller usually has the right to declare a forfeiture and take over possession of the property.

A(n)________ Is an Installment Contract for the Purchase of Land