ContractsMEDIUM
In Illinois, a land contract (installment contract) requires:
Correct Answer
C) Written agreement describing terms
An Illinois land contract must be in writing and describe the terms of the sale, though recording is recommended but not required for validity between parties.
Answer Options
A
Title transfer at signingB
Recording to be validC
Written agreement describing termsD
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Related Topics & Key Terms
Related Topics:
statute-of-fraudsreal-estate-contractstitle-transfer
Key Terms:
land contractcontract for deedIllinois Statute of Frauds740 ILCS 80/2installment sales contractequitable title
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