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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Land contract  

Definition 1.

A method of real estate financing; a mortgage-holding seller finances a buyer by taking a down payment and subsequent payments in installments, but holds the title until the mortgage is fully repaid.
 

Definition 2.

Installment contract drawn between a buyer and a seller for the sale of property, in which ownership of the property is not transferred until all the payments have been made.
 
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