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What is the difference between a lease-option and a land contract?

April 26, 2017contract land lease-option

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What is the difference between a lease-option and a land contract?

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Although they work much the same way, a land contract is a completely different legal instrument. With a land contract, the buyer is considered to be the legal owner even if the deed is held in escrow. With a lease option, the seller is considered to be the legal owner.