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The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
Balloon mortgage; Bargain-and-sale deed; Baseline – a line that is a base for measurement or construction, lines that divide north/south or east/west in surveying; Basis; Benchmark; Beneficiary; Bequest; Bhoodan movement; Bilateral contract – a contract in which only one party makes a promise; Bill of sale
Balloon payment: In this case, the initial monthly payments might be calculated based on a typical 15-year or 30-year amortization schedule, even though the loan term might only be for five or ...
Attorney General Keith Ellison filed a lawsuit Tuesday accusing a Twin Cities real estate broker of preying on Muslims and buyers with poor credit ratings with illegal and deceptive contracts for ...
The risk of loss is then transferred to the buyer – if a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and ...