Definition of "Depletion"

Brian Giacomello real estate agent
Brian Giacomello, Real Estate Agent LUX International Properties

Also called earnest money. Money deposited with an individual for security for the performance of some contract. This is intended to show his/her willingness to follow through with the purchase agreement. Deposit or earnest money can be forfeited if the depositor defaults on the terms of the contract.

 

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