Contracts
Which of the following BEST describes a land contract (contract for deed) in Arizona?
AA contract where the seller transfers title to the buyer at signing
BA seller-financing arrangement where the buyer takes possession but the seller retains legal title until the purchase price is paid✓ Correct
CA lease with no option to purchase
DA contract used exclusively for commercial real estate
Explanation
A land contract (contract for deed) is an installment sale arrangement where the buyer takes possession and makes payments to the seller, but legal title does not transfer until the full purchase price (or an agreed-upon amount) is paid.
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