Escape Clause


Definition of "Escape clause"

Toni Olin
  Keller Williams South Park

Contractual provision allowing an individual or business to renege on a commitment in certain cases without being penalized.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Downstream Holding Company

Holding company established by a mutual insurance company. The mutual insurance company has 100% own ...

As Is

(1) Term for second hand or damaged items sold without a sellers warranty. The purchaser accepts del ...

Rating

A valuation of risk of an individual or organization. ...

Mortality Assumption

Statistical projection of future deaths. ...

Rate Cap

In an adjustable rate mortgage (ARM), the maximum rate that can be charged during the mortgage peri ...

Hardship

Existence of a financial need which permits in-service withdrawals of funds from a section 401 (k) p ...

Related Real Estate FAQ

What Is The APR For This ARM Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

What Are Discount Points?

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

What Is An Adjustable-rate Mortgage (ARM)?

A type of mortgage in which the interest rate is keyed to a certain economic index and is adjusted a ...

What Is Homeowners Association (HOA)?

Homeowners association is a nonprofit association that manages the common areas of a condominium or ...

What Is A Broker?

An agent who is authorized to open and run his/her own agency. All real estate offices have one prin ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

5 U.S. Cities with the Best Public Transportation 6 Reasons you are not selling properties What is Hazard Insurance? What do Real Estate Attorneys do? Is it better to buy or sell a home first

FAQ

What are my coverage options? How Much Income Do I Need ? What is a maintenance fee? What is a Buildable acre? What are prepayment penalties?