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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.
Literally "from fact"; often used to mean something that is true in practice, but has not been officially instituted or endorsed. "For all intents and purposes". Cf. de jure. de futuro: concerning the future At a future date. de integro: concerning the whole Often used to mean "start it all over", in the context of "repeat de integro". de jure
Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
Glossary of Technical Terms, Phrases, and Maxims of the Common Law. Little, Brown and Company. Boston. 1881. Google Books; J Kendrick Kinney. A Law Dictionary and Glossary. Callaghan and Company. Chicago. 1893. Google Books; Burrill. A Law Dictionary and Glossary. Second Edition. Volume 1. Volume 2. Gibb. Students' Glossary of Scottish Legal Terms.
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