Proven Resource

Land Contract is basically a written legal agreement paper which is used in order to make a purchase of a real estate property. The property can be in any form, a barren land, a house, a building meant for the residential or commercial purpose, or any other form of real asset in terms of property. The buyer, as well as the seller, need to sign in that contract paper. The land contract in Michigan clearly mentions all the terms and conditions regarding the sale of the property. The buyer needs to clearly go through the terms mentioned in the paper along with the amount which needs to be paid over the specified period of time. Once the term of contract paper gets completed, and if the purchaser has cleared the payments by then, a legal title is issued where complete ownership is granted to him. Use of land contracts: The idea of issuing a land contract is beneficial for the seller as well as the buyer. The contract paper serves as a legal document with all necessary