Finance
Iowa farmland is frequently purchased using which type of owner-financed instrument that gives the buyer equitable title while the seller retains legal title?
ATrust deed
BMortgage
CContract for deed (land contract)✓ Correct
DAssumption agreement
Explanation
Iowa farmland is frequently sold using a contract for deed (land contract). The buyer receives equitable title and possession while making payments; the seller retains legal title until the contract is paid in full.
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