While a vendor is a seller, the vendee is a term associated with the person that buys or the person at whom the vendor sells his products or services.

What is a vendor and vendee in real estate?

Land contracts, or contracts for deed, are a security agreement between a seller, called a Vendor, and a buyer, called a Vendee: The Vendor agrees to sell a property by financing the purchase for the Vendee. The Vendor retains legal title and the Vendee receives equitable title.

What does contract vendee mean?

A contract vendee sale is a transaction in which a seller transfers beneficial rights, including the right of possession and obligations of ownership, to the purchaser and agrees to close at a future date under definite terms.