In a land contract, who retains title to the property until the final payment is made?

In a land contract, it is the vendor who retains title to the property until the final payment is made. The vendor, often referred to as the seller, provides the buyer (the vendee) with the right to possess and use the property while making payments in installments. This arrangement allows the vendee to live on or utilize the property without owning it outright until all payments are completed. Once the total payment is fulfilled, the vendor conveys the title to the vendee. This type of agreement is distinct from a traditional purchase where the buyer receives title at the closing of the sale.

The vendor's retention of title helps to secure their interest in the property until they are fully compensated, reducing the financial risk associated with selling the property on a credit basis.