Paying for a home through a Bond/Contract for Deed

LIST Code

HO-04-02-00-00

Title

Paying for a home through a Bond/Contract for Deed

Definition

This category covers options for someone who wants to pay for a home through borrowing money, and the borrower keeps the deed and the legal title to the house (and the borrower has physical possession of the house). It is usually known as a Bond for Deed or Contract for Deed arrangement. This includes dealing with consequences if the buyer defaults on the payments, what happens when the buyer makes improvements to the home, lawsuits that might result from using this bond/contract.

Terms within it

• Installment Land Sale Contracts

Other Taxonomy Terms

These terms in other taxonomies are equivalent to this term. They are mapped to each other.

• NSMI v1 Taxonomy: 1620650
• NSMI v1 Taxonomy: 1620300

Location in LIST