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Descriptions were performed both using a more simple format, a Basic Use Case template, [7] [8] and more advanced applications of the Unified Modelling Language. [ 9 ] [ 10 ] Process models were compared through an ontology-based methodology, [ 11 ] and national property transaction costs were estimated for Finland and Denmark [ 12 ] [ 13 ...
The purpose of obtaining a certificate of occupancy is to prove that, according to the law, the house or building is in liveable condition. Generally, such a certificate is necessary to be able to occupy the structure for everyday use, as well as to be able to sign a contract to sell the space and close on a mortgage for the space.
A housing lease may specify whether the renter is living alone, with family, children, roommate, visitors. A rental may delineate the rights and obligations of each of these. For example, a "sub-let" to a stranger might not be permitted without permission of the landlord. This also applies to whether or not pets may be kept by the renter.
A rental agreement, or lease, is the contract defining such terms as the price paid, penalties for late payments, the length of the rental or lease, and the amount of notice required before either the homeowner or tenant cancels the agreement. In general, responsibilities are given as follows: the homeowner is responsible for making repairs and ...
A broker's license is required for any person or company that, for compensation, leases or rents or offers to lease or rent, or places for rent, or solicits listing of places for rent, or solicits for prospective tenants, or negotiates the sale, purchase, or exchange of leases on real property, or on a business opportunity, or collects rents ...
A PSA may be a highly negotiated document with customized terms or may be a standardized contract similar to those used in residential transactions. [ 7 ] Once a PSA is executed, the buyer is commonly required to submit an escrow deposit, which may be refundable under certain conditions, to a title company office or held by a brokerage in escrow.