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An aleatory contract is a contract where an uncertain event determines the parties' rights and obligations. [ 1 ] [ 2 ] For example, gambling, wagering, or betting typically use aleatory contracts. Additionally, another very common type of aleatory contract is an insurance policy.
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
Purchase contracts with developers are typically one-sided in favor of the developer, and home buyers must be aware of what they are agreeing to before they sign any contract, attorneys say ...
The language of real estate contracts is typically written to protect buyers. And in many cases, a home seller who reneges on a purchase contract can be sued for breach of contract.
An offer can be the basis of a binding contract only if it contains the key terms of the contract. For example, in some jurisdictions, a minimum requirement for sale of goods contracts is the following four terms: delivery date, price, terms of payment that includes the date of payment, and a detailed description of the item on offer including ...
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:
The Pending Home Sales index, which measures signed real estate contracts for existing single-family homes, condos, and co-ops, rose 2% to 77.4 from a month earlier. An index of 100 is equal to ...
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