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
One-story house with a low pitched roof often having an open floor plan. ...
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The definition of obligee is the person to whom a debt or obligation is owed. An obligee is one party of a contract to who the other party, the obligor, is obligated. An obligee is also the ...
One who donated or gives a gift or bequest. ...
(1) An arrangement to buy real estate at a specified price and conditions. The failure to honor the commitment may result in damages. (2) Bank commitment to lend money in connection with ...
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Also called triple net lease. The lessee pays not only a fixed rental charge but also expenses on the tented property, including maintenance. ...
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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