ContractsInstallment_contracts_and_land_contractsMEDIUM
Under a contract for deed, the buyer defaults after making five years of payments. In some jurisdictions, what protection may the buyer have?
Correct Answer
D) The buyer may have equitable rights and a court-ordered redemption period
In many jurisdictions, a buyer under a contract for deed has equitable interest and may be entitled to a redemption period or other court protections upon default.
Answer Options
A
The buyer automatically receives the deedB
The seller must refund all payments in fullC
The buyer loses all rights without any recourseD
The buyer may have equitable rights and a court-ordered redemption periodWhy This Is the Correct Answer
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Key Terms:
installment_contracts_and_land_contractscontractsdefaultequity_protection
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