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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.
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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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