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  2. Can a seller back out of a real estate contract? - AOL

    www.aol.com/finance/seller-back-real-estate...

    And legally speaking, it can be very difficult to do so once a real estate contract has been signed. The language of real estate contracts is typically written to protect buyers.

  3. Common real estate contingencies and what they mean - AOL

    www.aol.com/finance/common-real-estate...

    A contingency clause in a real estate purchase agreement specifies an action or requirement that must be met, within a particular time frame, for the contract to become legally binding. Both the ...

  4. 72-hour clause - Wikipedia

    en.wikipedia.org/wiki/72-hour_clause

    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 ...

  5. Rescission (contract law) - Wikipedia

    en.wikipedia.org/wiki/Rescission_(contract_law)

    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.

  6. Rule against perpetuities - Wikipedia

    en.wikipedia.org/wiki/Rule_against_perpetuities

    The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.

  7. Breach of contract - Wikipedia

    en.wikipedia.org/wiki/Breach_of_contract

    Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether ...

  8. Property law - Wikipedia

    en.wikipedia.org/wiki/Property_law

    Property refers to legally protected claims to resources, such as land and personal property, including intellectual property. [1] Property can be exchanged through contract law, and if property is violated, one could sue under tort law to protect it. [1] The concept, idea or philosophy of property underlies all property law.

  9. Land contract - Wikipedia

    en.wikipedia.org/wiki/Land_contract

    The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...

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