Contracts
A contract for deed (land contract) is an arrangement where:
AThe buyer pays all cash at closing and immediately receives the deed
BThe seller retains the deed until the buyer completes all payments under the installment agreement✓ Correct
CThe broker holds the deed in escrow for 30 days
DThe lender holds the deed until the mortgage is paid off
Explanation
In a contract for deed (installment land contract), the seller retains legal title until the buyer completes all payments specified in the contract. The buyer receives equitable title and possession during the repayment period.
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