What is a uniform land contract best described as?

A uniform land contract is best described as an installment contract because it is a specific type of agreement where the buyer makes regular payments over a period while gaining equitable interest in the property. In this arrangement, the seller retains legal title to the property until the buyer fulfills all payment obligations. This structure allows buyers who may not qualify for conventional financing to purchase real estate, as they can make payments directly to the seller.

While a real estate purchase contract would also cover the sale of property, it typically involves a transfer of title at closing rather than installment payments over time. A trust deed and note are used in conjunction with a mortgage for securing loans, while a listing pertains to an agreement between a seller and a real estate agent to market the property. Hence, the identification of a uniform land contract as an installment contract highlights its unique structure and purpose within real estate transactions.