Difference Between Land Contract & Lease Option?

I am wondering what the difference between a Land Contract on a home compared to a Lease Option?
I know it probably is used mostly to buy land, but I have known a few people who have had a Land Contract on a home.
Any help would be appreciated,
Swany

Comments(1)

  • smack675th April, 2005

    A land contract is an agreement to purchase with payments being made in installments. Once sales price is finally paid in full, title transfers from seller to buyer

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