Installment Sale
/ɪnˈstɔːlmənt seɪl/
Definitions
- (n.) A sales agreement in which the buyer pays the purchase price in multiple payments over time while the seller retains title until full payment.
The parties entered into an installment sale agreement to transfer ownership gradually.
Forms
- installment sales
Related terms
See also
Commentary
Installment sales often involve retention of title clauses; precise payment terms and default consequences should be clearly drafted.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.