Land arrangements

In a real estate transaction, a land agreement is a contract in which a property owner (seller) provides financing to a buyer for the purchase of land. Under this arrangement, the seller keeps legal ownership of the property until the buyer completes all payments, usually made in installments.

In the travel and hospitality industry, land agreements are used to acquire sites for hotel, vacation rental, or resort development. For example, a hotel group might enter a land agreement to secure a parcel for a new resort, making installment payments while preparing construction and operational plans.