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Conditional approval, on the other hand, comes in after initial approval — and in fact, after you’ve signed a contract to buy a home and formally applied for a mortgage. This stage involves a ...
Owners should demand this release when they are paid in full. Some states allow an Unconditional Release upon final payment that is used to induce the final payment. It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment.
Since the lender did not necessarily enter into possession, had rights of action, and covenanted a right of reversion on the borrower, the mortgage was a proper collateral security. Thus, a mortgage was on its face an absolute conveyance of a fee simple estate, but was in fact conditional, and would be of no effect if certain conditions were met.
Buying a home is intimidating, to say the least. Being able to afford one is hard enough, and if you get past that hurdle, it's on to dealing with a hot housing market, getting an offer accepted ...
In the English legal system, a contingent fee is generally referred to as a conditional fee agreement (CFA) or, informally by the public and press, as "no win no fee". The usual form of this agreement is that the solicitor will take a law case on the understanding that if lost, no payment is made.
An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.
Major differences distinguish letters of credit from "demand guarantees"; in the latter instrument the obligation to pay is conditioned within the terms of the bank's promise, therefore if the demand guarantee is payable upon the beneficiary's written first demand he is assured payment notwithstanding any defence related to any other underlying ...
NEW YORK (Reuters) -Donald Trump may seek dismissal of the criminal case in which he was convicted in May of 34 felony counts involving hush money paid to a porn star, a judge ruled on Friday ...