Finance
In Wyoming, a real estate installment land contract (contract for deed) is:
AIdentical to a mortgage in all legal respects
BA seller-financing arrangement where the buyer has equitable title and possession but the seller retains legal title until the contract is paid✓ Correct
CProhibited by Wyoming law
DOnly available for agricultural land
Explanation
In a contract for deed (installment land contract), the buyer makes payments to the seller, takes possession, and gets equitable title, but the seller retains legal title until all payments are made. If the buyer defaults, the seller's remedies may be faster than foreclosure (depending on Wyoming law).
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