Land agreement

Land agreement – used within the area of Contracts & Obligations Law, the term details a contract with embedded installment payment schedule for future purchasing a plot of land. Also called in some legal systems as “Private purchase contract” or “preliminary contract” in another, it is a valid legal reason for voluntary concluding on a later stage the final contract in the form of a Title Deed. But it is important to be pointed here that the preliminary contract does not gives any ownership rights, neither means “purchase”; it only consists a future obligation for performance of the above legal activities.

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