Capacity Of Parties


Definition of "Capacity of parties"

Legal competence of parties to be held responsible for the terms of a contract or to be brought into the courts. Those who are under the legal age, are mentally incompetent, or under the influence of a substance do not have legal capacity.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Return Premium

Amount received by the policyholder if the policy is canceled, benefits are reduced, or the premium ...

Uninsured Motorist Coverage

Endorsement to personal automobile policy (PAP) that covers an insured involved in a collision with ...

Double-digit Inflation

Annual rate of inflation of 10% or higher. ...

Securitization

Process of the borrower giving the lender security to obtain the loan. ...

Non-Permanent Resident Alien

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to ...

Funded Retirement Plan

Same as term Funded Pension Plan: plan in which funds are currently allocated to purchase retirement ...

Related Real Estate FAQ

What Do I Need To Know About Term Life Insurance?

Provides financial protection for a limited, specified period of time, at a lower cost than permanen ...

What Is An Interest Rate?

An interest rate is the percentage the lender charges you for borrowing money. ...

What Is An Easement?

An easement is the right given by the landowner to use the property. ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

What Is A VA Loan?

A VA loan is a type of loan available to veterans and guaranteed by the Department of Veterans\' Aff ...

What Is Zoning?

Zoning is the laws that establish how a property can be used and what codes must be followed when er ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What do Real Estate Attorneys do? 7 Things to Consider Before Moving to a New City Why Use a Real Estate Agent? Is it better to buy or sell a home first Mortgage Loan Types

FAQ

What does an appraisal mean? How can I figure out my debt-to-income ratio? What does the Real Estate Settlement Procedures Act (RESPA) require? What do I need to know about RV Insurance? What is an interest rate?