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单词 LAND CONTRACT
释义

Conditional real property sale agreement. A buyer buys a property, but gains title only after paying the entire price including interest and other charges, as applicable. Contrast to a mortgage. Here, the lender has to apply for a court order, as this arrangement allows a lender to sell the property on default. Also known as contract for deed.

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更新时间:2024/12/26 16:25:05