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Contract law. Within a contract, an exculpatory clause is a statement that aims to prevent one party from holding the other party liable for damages. [1] An exculpatory clause is generally only enforceable if it does not conflict with existing public policy. [2]
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. [1] Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the ...
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien . A mortgage in itself is not a debt ...
A real estate transfer tax, sometimes called a deed transfer tax or documentary stamp tax, is a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property. In ...
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General Definition. To settle or to bring to a satisfactory state, so that the parties are agreed in the result; as, to adjust accounts. [2] When applied to a liquidated demand, the verb "adjust" has the same meaning as the word "settle" in the same connection, and means to pay the demand. When applied to an unliquidated demand, it means to ...
A deed, commonly, is a legal document that is signed and delivered, especially one regarding the ownership of property or legal rights. More specifically, in common law, a deed is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions ...