Louisiana Revised Statutes 9:2941 – “Bond for deed” defined
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Terms Used In Louisiana Revised Statutes 9:2941
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A bond for deed is a contract to sell real property, in which the purchase price is to be paid by the buyer to the seller in installments and in which the seller after payment of a stipulated sum agrees to deliver title to the buyer.