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
(1) Return of the principal invested in real estate. It excludes income earned. (2) Collection of a previously written off bad debt. ...
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Securing lease commitments to a building prior to its being available for occupancy. For example, a developer offers a discounted lease to potential tenants providing they agree to sign a ...
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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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