Lou Diamond Phillips. Lou Diamond Phillips Net Worth is $5 Million. Lou Diamond Phillips is an actor, film and television director with a net worth of $5 million. Lou Diamond Phillips has earned his net worth as a well known actor of films and television with one of his m. Lou Diamond Phillips (born L...
DEFINITION of 'Land Contract'. An agreement between a buyer and seller of property in which the buyer makes payments toward full ownership (as with a mortgage), but in a land contract, the title or deed is held by the owner until the full payment is made. land contract can be thought of as a lease with an option to buy. Certain states have more generous legal rights for land contract holders than others. As a result, the world of land contracts can be difficult to navigate.
Assignment Of Land Contract, Short Form With Consent Of Vendor. This section is from the book The Law Of Land Contracts, by Asher L. Cornelius. Also available from Amazon: Michigan Law Of Land Contracts. The following is a form of assignment of land contract in common use in Michigan by the legal profession, together with a form of consent by the vendee, and the acceptance and agreement by the assignee of the vendee to carry out the terms and conditions of the contract.