Contracts
A Florida 'land contract' (also called a 'contract for deed' or 'installment sale contract') means:
AThe buyer receives title immediately and pays the seller over time
BThe seller retains legal title until the buyer completes installment payments✓ Correct
CThe contract is for the purchase of vacant land only
DThe buyer pays in full within 12 months
Explanation
In a land contract (contract for deed), the seller retains legal title as security while the buyer takes possession and pays in installments. When the buyer completes all payments, the seller delivers the deed. This can be risky for buyers as they don't receive title until full payment.
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