I am about to sell my property via Real Estate Contract. It is my understanding that even though I am ultimately the responsible party for the mortgage, the buyer will actually benefit in writing off the interest on the loan. Is this the case? I guess the simple question is: Who gets to write off the interest on the mortgage, the buyer or the seller, when a Real Estate Contract is the method of sale?

Whoever's name the original mortgage is in gets the write off as they will be getting the interest payment info for tax filing purposes. Why would you think you wouldn't get this?

A friend who helped me sell the property with the Real Estate Contract told me that was the case. I was unsure that is why I asked the question

Basically the land contract sale only benefits the seller and not the buyer as the buyer does not have a mortgage but a contract.

I believe there is some confusion here.

The interest that the buyer gets to claim, regardless of who actually pays the interest, is the discount points on the mortgage loan itself.

In any other case, the mortgage interest goes to the person who has title to the land and who has the legal obligation to pay the mortgage.