An agreement or contract to sell real property on an installment basis is:
A)A promissory note
B)A mortgage
C)An installment purchase
D)A contract for deed

Question

Quizplus · Accepted Answer

A contract for deed, also known as a land contract, is an agreement where the seller retains legal title to the property while the buyer makes installment payments. The legal title is transferred to the buyer only after the final payment is made, differentiating it from other forms of property purchase agreements.

An Agreement or Contract to Sell Real Property on an Installment