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A retention of title clause (also called a reservation of title clause or a Romalpa clause in some jurisdictions) is a provision in a contract for the sale of goods that the title to the goods remains vested in the seller until the buyer fulfils certain obligations (usually payment of the purchase price).
Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers. [1]
The closing date is set during the property negotiation phase and is usually several weeks after an offer is formally accepted. [2] At a high level, the closing typically involves the following parties: the seller, the buyer, real estate agents, attorneys (depending on the state), the mortgage lender, and the settlement agency (also known as a ...
To avoid that however, I can only afford to pay you 25% (or whatever) of what I owe you." Note: almost a half a million people filed bankruptcy this past year. In a Chapter 7 bankruptcy, all ...
I’m 29 years old and just financed a 2023 Dodge Ram I clearly can’t afford — I owe $27K, pay $650/month, plus $350 for insurance. Voluntary repossession will ruin me — what can I do?
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