FIND THE DEFINITION FOR ANY REAL ESTATE TERM

Click on the letters above for terms beginning with that letter, and then click on the term below.

Don’t see a term here? Feel free to ask us. (Unfortunately, however, we cannot give you real estate or legal advice.)

LAND INSTALLMENT CONTRACT – A form of seller financing, whereby the seller retains legal title to the property until a certain amount of the purchase price is paid. Depending on the laws of the state where the property is located, it can be risky for the buyer. The buyer may not be entitled to any equity in the property if they default on the contract prior to taking title. Also called a LAND CONTRACT, INSTALLMENT CONTRACT or CONTRACT FOR DEED.

LESSEE – A tenant.

LESSOR – A landlord.