Definition of "Duress"
Act of forcing an individual or business to do something against their will. It is a legitimate defense in court to reserve the effect of the compelled act.
Popular Real Estate Terms
A legally transferable debt instrument by which the issuer agrees to pay the payee within a certain time period. Note usually pay a specified rate of interest tied to the market rate of ...
An estate which descends to heirs in perpetuum. In an estate of inheritance, the current tenant not only has the right to enjoy the property for life, buy his or her tenancy rights pass to ...
Past action of a property owner or tenant. ...
The direction in which a community is growing. Directional growth is measured over time, and its path strongly influences current and future market values of those properties clearly in ...
Interest in real property that exists when a tenant remains in possession of leased premises or a "hold over" after his right to possession has ended. In a tenancy at sufferance, a tenant ...
Document, such as a deed, which demonstrates property ownership. ...
Document describing the benefits and provisions for people or businesses covered by group insurance. Document in life and health insurance issued to a member of a group insurance plan ...
Geographic location where a court action and trial takes place. The legal proceedings should occur in the place where jurisdiction applies. A "change of venue" may occur in a criminal ...
Timber in an original form, such as a pole. ...
Comments for Duress
I would like to know why a law does not exist that forces real estate agents to say to vendors to take sale contract home or to their lawyers to verify. They always place contracts in front of people and point a finger to the signatory spor and say "sign here". I once said "I need to take contract home to think about it" and the agent immediately said "No, you can't, the purchaser will place an offer elsewhere". Is this action not considered duress. They are pushy and play on people's emotions.
Aug 20, 2019 23:25:44Hello! Thank you for bringing up this issue. There must be clients who have the same question. However, the answer is quite simple. Don't go alone! Whenever you have to sign a contract, ask a professional to join you - ideally, a lawyer. There is a lot of jargon and many real estate terms that you may not fully understand. If you want to study the contract, I'm sure that nobody would mind if you actually took the time to read it. If they didn't feel comfortable with this, then it would be a good idea to leave and do business with somebody else. Contracts are very powerful documents and both parties must know exactly what they are getting themselves into. As for the fact that agents play on people's emotions, this is true for all businesses. Emotions are the essence of marketing.
Aug 26, 2019 16:14:05Have a question or comment?
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