Final answer:
In a promotional land sale agreement, legal ownership of the land remains with the current owner until the contract terms are satisfied. Ownership is transferred upon successful completion of the contract.
Step-by-step explanation:
In a promotional land sale agreement, the legal ownership of the land typically remains with the current owner until the contract terms are satisfied.
During the contract period, the buyer may have certain rights and privileges to use the land, but legal ownership is not transferred until the contract is fulfilled.
For example, if a builder wants to purchase land from a farmer to construct a commercial property, they would enter into a promotional land sale agreement. The agreement would outline the terms and conditions, including the transfer of legal ownership upon successful completion of the contract.