Copyright

What is a Contract For Deed? - Definition & Procedure

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is incorrect about a contract for deed?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. A _____ sells the real estate while a _____ buys it.

2. A _____ is a large payment that is due at the conclusion of some land contracts that often require a vendee to seek refinancing to make the payment.

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

Contract for deed transactions are commonplace yet complicated facets of real estate business, and this quiz/worksheet combo will help check your comprehension of the process and where it is used. Quiz questions will ask about necessary steps and appropriate situations for contracts and deeds.

Quiz & Worksheet Goals

These practice assessments will quiz you on:

  • The legal implications of a contract for deed
  • Terms involved in real estate contracts
  • Alternate names for contract for deed
  • Clauses involved in contracts for deeds

Skills Practiced

  • Reading comprehension - ascertain if you understood key concepts from the related contract for deed lesson
  • Information recall - access the knowledge you've gained regarding contract terms in real estate
  • Knowledge application - employ your knowledge to answer questions about elements of a contract for deed

Additional Learning

If you want to find out more about contracts for deeds, check out the corresponding lesson titled What is a Contract For Deed? - Definition & Procedure. The lesson will also cover:

  • Bank financing and its relation to contracts for deeds
  • Forfeiture potential and process
  • Financial explanations of potential contract for deed situations
Support