Land Installment Contracts

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Question

Answer

after-acquired title

a title acquired by a grantor subsequent to conveyance to a buyer - this ordinarily invests the buyer with the "after-acquired" title (500)

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forfeiture

the loss of the right to a down payment on real estate as a result of a breach of contract; a buyer's loss of an interest in property under a land installment contract, due to breach of the contract (510)

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indemnification

the act of compensating another in the event of loss (503)

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land installment contract

also known as a contract for a deed - a contract in which the buyer pays the purchase price on an installment basis - the seller/owner retains title until the purchase price is paid (499)

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waste

damage caused by the tenant, including failure to protect the premises from decay and ruin caused by the natural elements (503)

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Created by: rainesv