But after Mr. Phillips took on the starring role in ''La Bamba,'' the new film biography of Valens, the Valenzuela family paid him the highest compliment of all. ''They all called me Ritchie,'' said Mr. Phillips. ''Ritchie's brother Mario hasn't called me Lou yet.'' Similar Outlooks.
The best structure depends on who you are. From a buyer's perspective, the trust deed is preferable, as he gets ownership of the property. It also helps to insulate him from the seller. On the other hand, a land contract gives the seller more control since she retains ownership of the deed.
Enter Your Zip Code to Connect with a Lawyer Serving Your Area. A land contract is a written legal contract, or agreement, used to purchase real estate, such as vacant land, a house, an apartment building, a commercial building, or other real property. A land contract is a form of seller financing.It is similar to a mortgage, but rather than borrowing money from a lender or bank to buy real estate, the buyer makes payments to the real estate owner, or seller, until the purchase price is paid in full.hen the final payment is made, and all conditions of the land contract are met, the deed to the property will be filed with the appropriate government office, such as the county register of deeds, naming the buyer as the new owner of the property.