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Most people do not understand why a deed for contract is needed.  Basically think of it like when you go to the store.  There is a transaction that takes place.  You get a receipt stating that you either sold or purchased a product.  That receipt is essentially the contract stating that you either have possession of something or gave up possession of something.  The same concept applies to a deed.  You must receive proof that the transaction took place.  That is where that contract for deed comes in.  It is proof that a transaction on that property took place.  Nothing more, nothing less.