An arrangement in which the owner of real property sells property to a purchaser and extends credit to the purchaser is known as ________.
A) a lien release
B) a credit release
C) accommodation
D) land sales contract

Question

Quizplus · Accepted Answer

A land sales contract, also known as a contract for deed or installment sales contract, is an agreement between the seller (or owner) of real property and a buyer in which the seller provides financing to the buyer to purchase the property. The buyer takes possession of the property and makes payments to the seller over a period of time, typically with interest, until the full purchase price is paid. This type of arrangement is often used when the buyer cannot obtain traditional financing, or when the seller wants to earn additional income from interest payments.

An Arrangement in Which the Owner of Real Property Sells