Backup Contract
Definition of "Backup contract"
Secondary written agreement to purchase real property in the event the initial contract is not signed.
Popular Real Estate Terms
Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and ...
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(1) Giving up an ownership claim to property. (2) Renunciation of a claim to real property. ...
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Cancellation of a contract such as when a real estate agreement is deemed illegal. ...
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Long, one-story house with the roof sloping toward the ground, often having skylights and contemporary windows. ...
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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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