Contracts
An installment sale contract (land contract or contract for deed) differs from a standard purchase because:
AThe buyer receives the deed at the time of signing the contract
BThe seller retains legal title until the purchase price is fully paid while the buyer has equitable title✓ Correct
CThe transaction does not require a real estate license
DThe buyer never obtains full ownership under Tennessee law
Explanation
In an installment land contract (contract for deed), the seller retains legal title while the buyer makes installment payments and holds equitable title. The seller conveys the deed only after the purchase price is paid in full.
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