If they did not receive a payment book from the bank, they were buying on a land contract. Results are the same.
Weren’t changes made years ago to contract-for-deed arrangements? They were common back in the 70s and people made fortunes by taking the properties back after the buyers failed to come up with huge balloon payments, then the sellers started all over again with new *buyers*.
I thought I recalled that the entire arrangement had been made illegal? Can’t remember.....