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For example, if a buyer pays a $2,000 down payment and borrows $8,000 for a $10,000 parcel of land, and pays off in installments another $4,000 of this loan (not including interest), the buyer has $6,000 of equity in the land (which is 60% of the equitable title), but the seller holds legal title to the land as recorded in documentation in a ...
425 Agreements can be effective for many decades. At the end of the term of the agreement, the agreement itself defines what should happen to the affected land at the termination of the contract. The law permits for the parties to agree for the land to revert to the original party or permanently attached to the other party.
Contract zoning in the United States, also referred to as "zoning by contract", "rezoning by contract", or "rezoning subject to conditions" [1] is a form of land use regulation in which a local zoning authority accommodates a private interest by rezoning a district or a parcel of land within that district to a zoning classification with fewer restrictions based on an agreement that the ...
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A mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed.
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