Contracts
In Oklahoma, a contract for deed (land contract or installment sale) is a form of seller financing where:
AThe buyer receives the deed at signing and pays over time with no security to the seller
BThe seller retains legal title until the buyer completes all payments; the buyer has equitable title and possession during the payment period✓ Correct
CDeeds are recorded monthly as payments are made
DOnly agricultural property can be sold on a contract for deed
Explanation
Under a contract for deed, the seller retains legal title as security while the buyer takes possession and equitable ownership. When all payments are made, the seller conveys legal title.
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