Finance
What is a 'land contract' (contract for deed) in Nevada?
AA standard purchase agreement for vacant land
BA seller-financing arrangement where the seller retains title (legal ownership) until the buyer completes all payments — the buyer has equitable title and possession but the seller holds legal title as security✓ Correct
CA Nevada government contract for land purchased from BLM
DA contract required for all commercial land sales in Nevada
Explanation
In a land contract (installment sale contract), the buyer pays in installments and receives possession but the seller retains legal title until the final payment. The buyer has equitable title. Unlike a deed of trust (where the buyer gets title immediately with a lien attached), the land contract seller holds title as security. In Nevada, land contracts can create complicated legal situations, particularly regarding buyer protections if they default. Many Nevada practitioners prefer deed of trust seller financing to land contracts.
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