In the case of _____,a buyer takes possession of the property,pays the taxes,insures the property,and assumes several obligations of an owner.However,the seller keeps legal title and does not turn over the deed until the purchase price is paid.

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.

In the Case of _____,A Buyer Takes Possession of the Property,pays