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A copyhold was a parcel of land tenure granted to a peasant by the lord of the manor in return for services, such as agricultural services. [1] Such grants/servitude was not always in the best interest of the peasant and the copyhold could be extinguished by an act of the tenant showing an intention not to hold the land any longer. [ 1 ]
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
In a real estate context, an option fee is money paid by a buyer to a seller for the option to terminate a real estate contract. Option fee funds should not be confused with earnest money. The use of option fees is most common in the residential resale market in Texas. [citation needed]
An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
As an expert in real estate law, he represents buyers, homeowners’ associations and developers. “It is a contractual relationship that is apples and oranges different from buying a resale ...
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