land contract
Americannoun
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a contract for the purchase and sale of land.
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a contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid, the seller retaining legal title to the land as security for the payments.
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
“If they can use a highly technical case regarding a land contract, the regime can easily find another technical point regarding other media organizations,” Mr. Hui said.
From New York Times • Dec. 10, 2022
Michigan officials say they are close to launching a $242.8 million federally funded homeowner assistance program that will help land contract buyers, as well as mortgage holders, starting later this year.
From Seattle Times • Sep. 22, 2021
Norris and several business partners bought the Lansing property on a land contract and will rely on loans to fund infrastructure improvements.
From Washington Times • May 28, 2018
Hours after the crackdown, Guangdong's Political and Law Committee reiterated on its Weibo microblog account that Shangpu's land contract had been scrapped, and the village chief detained along with more than 10 others.
From Reuters • Mar. 14, 2013
In 1960, feeling himself prepared at last to practice, Novak traded a land contract worth $15,000 for the practice of a retiring doctor.
From Time Magazine Archive
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
