Escape Clause
Definition of "Escape clause"
Contractual provision allowing an individual or business to renege on a commitment in certain cases without being penalized.
Popular Real Estate Terms
part of the Department of Housing and Urban Development (HUD), which sees that complete disclosures are made for land sales. ...
Professional certification granted by the Institute of Real Estate Management, an affiliate of the National Association of Realtors. ...
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Individual who attempts to maximize his or her profitability by investing which the anticipation that a particular investment will go up in value. A speculator will generally be willing to ...
Ability of the size of the land to accommodate the desired economic purpose. An example is having enough space to build a supermarket to meet the needs of the community. ...
Owner-occupied housing. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
The real and personal assets of a person at the date of death. The distribution of the assets to the heirs depends on the provision of the will. If no will exists, the distribution is based ...
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