What is "bond for deed"

n. (context legal English): A document given by the owner of real estate to convey the property upon being paid money; an agreement to convey title in the future that, so long as it remains executory, allows title to remain vested in the original owner.

A bond for deed is a contract to sell real property in which the purchase price is to be paid by the buyer to the seller in installments and in which the seller, after payment of a stipulated sum, agrees to deliver title to the buyer. It may also be called a "contract for deed" or a "Land Contract"