Asked by Martie Coleman on Jul 22, 2024

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An agreement for sale includes the right to retake possession if the person buying the land fails to pay installments.

Agreement For Sale

An agreement where title will be transferred at some time in the future, typically once the property is fully paid for; an agreement that grants possession of property to the purchaser pending full payment of the price.

Retake Possession

The act of reclaiming ownership or control of property, typically by a seller or lender from whom the property was bought on credit or leased.

Pay Installments

To make payments for a good or service over a period of time in portions, rather than paying the full amount upfront.

  • Determine the entitlements and duties of participants within mortgage and lease contracts.
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Verified Answer

NS
Naresh SharmaJul 28, 2024
Final Answer :
True
Explanation :
An agreement for sale often includes terms that allow the seller to retake possession of the property if the buyer fails to make the agreed-upon installment payments, as it is a conditional sale pending full payment.