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A contract for deed (installment sale contract) is attractive to certain buyers because buyers can only make a small down payment with monthly installments. The Contract for Deed does not require conveyance (transfer) during the same year, but it often must meet certain requirements.

Installment Sales Contract refers to the associated fixed-rate retail installment sale contract for the purchase of machinery or equipment with relation to any relevant Receivable. Any contract or agreement, including a contract for deed, bond for deed, or any other sale or legal device whereby a seller agrees to sell and the buyer agrees to buy residential real estate,

in which the consideration for the sale is payable in installments for a period of at least one year after the date of sale, and the seller retains an interest or security for the purchase price or otherwise in the property, is referred to as an "installment sales contract" or simply as "contract."

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