Chapter 30

Options and land contracts

Buying the right to buy, and buying on installments

An explorable chapter on options and land contracts for the real estate exam: optionor and optionee, option money, exercise and lapse, recording and assigning an option, lease options and lease-purchases, rights of first refusal, land contracts (installment contracts, contracts for deed), legal and equitable title, default, due-on-sale risk, and assignment against novation.

1. 30.1
   Option contractsPaying for the right to decide later
2. 30.2
   Lease options, lease-purchases and first refusalMay buy, must buy, or may match
3. 30.3
   Land contractsLiving in it now, owning it later
4. 30.4
   Default, the seller's loan and assignmentWhat can go wrong over the years
5. 30.5
   The option clock and the long road to a deedSix stages on one street

1 interactive 3D scene · 0 slider tasks · 3 practice sets · 16 questions