A contract for deed or installment contract for the sale of real estate (or other assets) between parent and child is not unusual; a frequent outcome of such transactions is that the obligor under the contract becomes the owner or a co-owner of the contract after death of the contract seller which results in often unanticipated income tax consequences.
Harl, Neil E.
"When a Contract Obligor Becomes an Owner of the Contract,"
Agricultural Law Digest: Vol. 13
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol13/iss19/1