land contract
noun
a contract for the purchase and sale of land.
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.
Nearby words
land agent, land art, land bank, land breeze, land bridge, land contract, land crab, land dayak, land flowing with milk and honey, land forces, land freeze
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019