Condition Precedent

Definition of "Condition precedent"

Condition that must be fulfilled or requires certain action before the estate granted can take effect.

Search Real Estate Glossary

Related Real Estate Glossary terms

Plaintiff

An individual's bringing a legal action against a defendant. The plaintiff wants relief from the jud ...

Employee Friendly Benefits

Employee benefit plan that provides such benefits as long-term care insurance, dependent care spendi ...

Cavity Wall

Hallow masonry wall consisting of an inner and outer wall with dead air space between them. The air ...

Cost-of-living Plan

Plan providing benefits that are adjusted according to variations in a specified index of prices. Fo ...

Waiver Of Subrogation Rights Clause

Endorsement to a property liability policy whereby an insurer gives up the right to take action agai ...

Escrow Account

Funds that the lender collects monthly to pay the monthly mortgage insurance premiums, homeowners in ...

Related Real Estate FAQ

What Is A Gift Letter?

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

When Should I Get Travel Insurance?

You should definitely consider getting travel insurance when doing or bringing any of the following ...

What Is A Seller Takeback?

A seller takeback is a type of financing in which the seller arranges for the financing on a propert ...

What Happens When A Property Starts To Depreciate?

When a property depreciates it declines in the value of the property due to poor location, dilapidat ...

How Big Is An Acre?

An acre is an area of land equal to 43,560 square feet. For visuality purposes, an acre is most oft ...

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after ex ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

Foreclosure - The Pros and Cons of Buying Tax Breaks for the First Time Home Buyer Real Estate Open House - The Dos and Don Why Right Now is a Good Time for Millennials to Buy a Home Is it better to buy or sell a home first

FAQ

What is a Multiple Listing Service (MLS)? What should I do if I'm in an accident? What is an adjustable-rate mortgage (ARM)? What is a lease purchase mortgage? What is zoning?