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For example, in a four-household chain, A buys B's house, B uses the money from that sale to buy C's house, and C uses the money from that sale to buy D's house. (A chain can be circular. This example becomes circular if D buys A's house.) All sales in a chain close on the same day. On that day, all the households involved in the chain leave ...
Chain of custody (CoC), in legal contexts, is the chronological documentation or paper trail that records the sequence of custody, control, transfer, analysis, and disposition of materials, including physical or electronic evidence.
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 ...
Chain of custody is an equivalent term used in law, especially for evidence in criminal or commercial cases. Software provenance encompasses the origin of software and its licensing terms. For example, when incorporating a free, open source or proprietary software component in an application, one may wish to understand its provenance to ensure ...
Real estate is one field where the chain of title has considerable significance. In real estate transactions in the United States, insurance companies' issue title insurance based upon the chain of title to the property when it is transferred. Title insurance companies sometimes maintain private title plants that track real estate titles in ...
A property abstract is a summary of the legal documents that chronicle transactions associated with a particular parcel of land.Generally included are references to deeds, mortgages, wills, probate records, court litigations, and tax sales—basically, any legal document that affects the property.
The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee". [2] The bailee is the person who possesses the personal property in trust for the owner for a set time and for a precise reason and who delivers the property back to the owner when they have accomplished the ...
Real estate agents are not working on consignment schemes. The agent is just the arranger of the business; contracts are written directly between the first and the third party (due to real estate registration and tax issues). Cross-border triangular trade with a sales agent is usually not consignment trade. This is because the goods typically ...