Contracts
A Connecticut land contract (installment sale contract) differs from a conventional mortgage in that under a land contract:
AThe buyer immediately receives legal title
BThe seller retains legal title until the buyer completes all payments✓ Correct
CNo interest is charged on the balance
DThe local government holds the title
Explanation
In a land contract (contract for deed), the seller retains legal title while the buyer occupies the property and makes installment payments. Legal title transfers to the buyer only after all payments are made.
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