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LSDefine

Simple English definitions for legal terms

bond for deed

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A quick definition of bond for deed:

A bond for deed is a way to buy a house where the buyer makes payments to the seller over time instead of paying the full price upfront. The seller keeps the title to the property until the buyer has paid off the full amount. It's also called a bond for title or a conveyance.

A more thorough explanation:

A bond for deed is a type of real estate transaction where the seller finances the purchase of the property for the buyer. The buyer makes payments to the seller over time, and once the full amount is paid, the seller transfers the title of the property to the buyer.

Example 1: John wants to buy a house, but he doesn't have enough money for a down payment. He finds a seller who is willing to do a bond for deed. John makes monthly payments to the seller, and once he has paid the full amount, the seller transfers the title of the property to John.

Example 2: Mary inherited a piece of land from her parents, but she doesn't want to keep it. She decides to sell it using a bond for deed. The buyer makes monthly payments to Mary, and once the full amount is paid, Mary transfers the title of the land to the buyer.

These examples illustrate how a bond for deed works. It is a way for buyers to purchase property without having to come up with a large down payment, and for sellers to finance the sale of their property. It is important to note that the seller retains the title of the property until the full amount is paid, so the buyer does not have full ownership until the end of the payment period.

bonded warehouse | bond for title

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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