In a typical real estate transaction, the buyer receives the deed to the property upon closing the sale. However, when buying under a land contract, the process is slightly different.

A land contract, also known as a contract for deed or installment land contract, is a financing arrangement where the buyer, known as the vendee, makes payments to the seller, known as the vendor, over a certain period of time. The vendee does not receive immediate ownership of the property but rather possesses equitable title.

Only after fulfilling the terms of the land contract, such as making all the required payments and complying with any other agreed-upon conditions, will the vendee receive the deed to the property. This means that the vendee will become the legal owner of the property at that point.

For more information on when a vendee buying under a land contract would receive a deed, visit this link.

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