What is a Contract For Deed?
paystubmakers.com A contract for deed, also known as a “land contract,” or “bond for deed,” is a document allowing a seller to finance the sale of their own property. Typically, the buyer agrees to pay for the property in monthly installments and takes immediate possession of the property. The buyer has the right to occupancy and, in some states, the right to claim the homeowner exemption on their property taxes. The seller, meanwhile, retains the legal title to the property until all the payments have been successfully made.
