What type of contract is primarily used to protect the seller’s interest in a sale?

The Land Contract is primarily used to protect the seller’s interests in a sale by allowing the seller to retain legal title to the property while giving the buyer the right to occupy and use the property. This arrangement is beneficial for sellers as it offers a level of security; they retain the ability to reclaim the property if the buyer defaults on payments. Unlike a traditional sale where the buyer receives full ownership immediately, a land contract ensures that the seller has a vested interest and a means of recourse should the buyer fail to meet their obligations.

In comparison, the Lease Agreement typically protects the interests of both parties in a rental scenario rather than a sale. A Real Estate Listing Agreement is more focused on the relationship between the seller and the real estate agent, detailing the agent's responsibilities and commission, rather than directly protecting the seller in a sale transaction. The Purchase Agreement facilitates the actual sale and outlines terms between the buyer and seller, but it does not provide the same level of security concerning ownership rights as a Land Contract does.