Question
Carol and Leslie sign a contract stating that Carol will pay Leslie $650 per month for the next 20 years. Carol will live in the
Carol and Leslie sign a contract stating that Carol will pay Leslie $650 per month for the next 20 years. Carol will live in the house and pay all expenses, including property taxes, insurance, and maintenance costs. Leslie will continue to have title until the property is paid for. What kind of contract do you have?
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Income Tax Fundamentals 2013
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