Finance
In Ohio, a 'contract for deed' (installment land contract) means the:
ABuyer immediately receives the deed upon signing the contract
BSeller retains legal title until the buyer pays the purchase price in installments, then delivers the deed✓ Correct
CBuyer receives a warranty deed at the time of the first payment
DSeller can repossess without legal process if one payment is missed
Explanation
In an installment land contract (contract for deed), the seller retains legal title and the buyer receives equitable title. The buyer takes possession and makes payments; the deed is delivered when the contract is fulfilled.
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