What term is used to describe a buyer under the terms of a land contract?

The term used to describe a buyer under the terms of a land contract is "vendee." In the context of real estate transactions, a land contract is an agreement in which the seller (often referred to as the vendor) provides financing to the buyer (the vendee) for the purchase of a property. The vendee makes payments directly to the vendor and typically gains equitable title to the property, although legal title remains with the vendor until the contract terms are fulfilled.

This terminology is part of the legal framework governing land contracts and reflects the roles of each party involved in the transaction. Understanding these terms is essential for those studying real estate, as it helps clarify the obligations and rights of each participant in a property sale.