Property Ownership
In Delaware, which party in a land contract (contract for deed) holds legal title during the contract term?
AThe buyer (vendee) holds legal title immediately
BThe seller (vendor) holds legal title until the buyer completes payments✓ Correct
CA trustee holds legal title on behalf of both parties
DThe county recorder holds legal title until the deed is recorded
Explanation
In a land contract (installment sale contract), the seller retains legal title until the buyer completes all required payments. The buyer holds equitable title and possession but does not receive the deed until the final payment.
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