An Installment Contract for the Transfer of Realty (also known as a land contract or contract for deed) is a contract between a seller and a buyer for the transfer of real estate. The seller retains legal title to the property, while the buyer takes possession and makes installment payments over a period of time, with the seller transferring title to the buyer when all payments have been made. Types of Installment Contract for the Transfer of Realty include: • Agreement for Deed: A contract between a buyer and seller that transfers title to the buyer upon full payment of the purchase price. • Land Installment Contract: A contract between a buyer and seller that transfers title to the buyer upon full payment of the purchase price, plus interest. • Contract for Deed: A contract between a buyer and seller that transfers title to the buyer upon full payment of the purchase price, plus interest and closing costs. • Lease Option Agreement: A contract between a buyer and seller that grants the buyer the right to purchase the property at a future date, with the buyer making payments and receiving credits towards the purchase price.