What do the models receive after the shoot, and can you tell me about modeling contracts?

i have a canon xsi and for portaits i'll use my ef-s mount 50mm/f1.4. i don't fully understand the workings when working with a practice model. do i give them the photos of the shoot(which is golden or foolish)? how do contracts work? can i sell the shoot photos, and are the photos mine? can you all tell me how this photography/modeling relationship works when for practice?