Contracts
Under Connecticut law, a land installment contract (contract for deed) allows a buyer to:
AReceive the deed at the time of signing
BTake possession while making payments, with the deed transferred upon completion of payments✓ Correct
CPay property taxes in installments over 30 years
DBuy land zoned commercial for residential use
Explanation
In a land installment contract (contract for deed), the buyer takes possession of the property immediately but receives legal title (the deed) only after completing all required payments to the seller.
Related Connecticut Contracts Questions
- A Connecticut buyer's purchase contract includes a 'mortgage commitment deadline' of June 1st. By May 28th, the buyer has a commitment but needs 3 more days for lender paperwork. What should happen?
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- Which element is NOT required for a valid Connecticut real estate contract?
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