Backup Contract
Definition of "Backup contract"
Secondary written agreement to purchase real property in the event the initial contract is not signed.
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Tax assessed on a transfer of property made without adequate legal consideration. This tax is based on the appraised value of the property at the time of transfer.Also, gifts of property ...
Comments for Backup Contract
Back-up Withholding meaning
Nov 19, 2018 17:39:11Hello Dave
Nov 29, 2018 17:18:11We suggest you read the Backup Withholding glossary term for a detailed look. But, basically, it is tax levied by the IRS on your investments outcomes the moment you withdraw that money.
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