Posted by Eric (MI) on October 03, 2007 at 16:18:14:
Not at all
There is so much to explain there I will just have to head you towards Google and go to advance search, enter Creonline.com as the site to search and do a search for each. Happy reading for the next few months ![]()
A basic definition of each as is follows:
Land Contract: An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made.
Subject-to: The purchase of a property with an existing lien against the title without formally assuming any personal liability for the liens payment. In other words, you agree to make the payments but you aren’t personally responsible to the lender since the homeowner keeps the loan in his/her name.
Lease Option: A lease that gives the tenant the right to purchase the property, either during the lease term or at its end
Of course there are a multitude of definitions and the words I choose might not be everyone’s ideal way of explaining them but that wasn’t my intent with this post, that’s what the search is for ![]()