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Land Contract
A conditional agreement for the sale and purchase of real estate in which the legal title to the property is retained by the seller until the purchaser has fulfilled the agreement, usually by completing the payment of the agreed-on purchase price.
Legal Title
The official right to ownership of property or assets, recognized and protected by law.
Possession
The state or fact of owning or holding something, either physically or legally.
Deficiency
The lack of a required or necessary quality, amount, or degree, often used in financial contexts to denote a shortfall.
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