Property Ownership
A NH buyer purchases a property using a contract for deed (installment land contract). Under this arrangement:
AThe buyer receives the deed at closing
BThe seller retains legal title until the contract is paid in full, at which point the deed is conveyed✓ Correct
CThe buyer has no rights until the final payment
DThe contract is automatically void after 5 years
Explanation
In a contract for deed (land contract), the seller retains legal title while the buyer receives equitable title and makes installment payments. When all payments are made and the terms fulfilled, the seller conveys the deed.
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