Home Foreclosures: 13.4.1 Judicial Treatment of Land Installment Contracts As Mortgages
Absent clear statutory provisions requiring that installment land sale contracts be foreclosed as mortgages, buyers enjoy the strongest protections when court rulings mandate such a requirement.82 In supporting this type of common law rule, the Restatement of Property recognizes that a contract for deed or land installment sales contract creates a mortgage.83 The Restatement position focuses upon the function of a land installment sales contract as a means of securing the s