contract for deed

Definition of "contract for deed"
  1. A financial agreement enabling the purchase of property, where the seller retains the title until the loan is fully paid by the buyer
How to use "contract for deed" in a sentence
  1. The couple decided to use a contract for deed to buy their first house.
  2. Under the contract for deed, the seller retains title to the property until the loan is fully paid.
  3. The contract for deed allows the buyer to use and control the property despite not having the title yet.

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