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land contract

[/lænd ˈkɒntrækt/]
nounpl: land contracts
contrato de compra e venda de terreno
1. A legally binding agreement between a buyer and seller for the purchase of real property, where the seller finances the transaction and retains title until the buyer completes payments
They entered into a land contract to purchase the property over five years.
Eles celebraram um contrato de compra e venda de terreno para adquirir a propriedade ao longo de cinco anos.
2. An installment purchase agreement for real estate where the seller acts as the lender
The land contract specified monthly payments of $1,500 until the full price was paid.
O contrato de compra e venda estipulava pagamentos mensais de $1.500 até o preço total ser pago.
Synonyms
installment land contractcontract for deedconditional sales contractland sale contract

Regional Variations

General Brazilian
contrato de compra e venda de terreno / contrato de venda parcelada
Most common term in Brazilian real estate transactions
São Paulo
contrato de parcelamento de terra / contrato de financiamento direto
Frequently used in commercial real estate contexts
Portugal
contrato de compra e venda com financiamento / contrato de aquisição com prestações
Portuguese legal terminology for seller-financed transactions

Related Idioms & Phrases

seller financing
owner-financed property
take back a mortgage
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