Hold Harmless Clause
Definition of "Hold harmless clause"
A contractual clause where one party assumes a liability risk for another. Thus, a hold harmless clause effectively indemnifies the named party from any liability by transferring the risk to another. For example, John agrees to lease a retail store from Brian under the condition that John will be held harmless from any structural liabilities.
Popular Real Estate Terms
Passageway existing from property. An agree may lead to a roadway or some other form of exit. ...
The legal right of a widow to a portion of her deceased husbands real property. ...
Concrete with steel rods inserted into it to provide additional working load support. The premise is that both materials will act together in resisting loan stress. ...
Space reserved for specified vehicles. For example, an office building may have space available for automobiles of tenants, clients of tenants, and other visitors. Parking facilities may be ...
Present worth of the property which is different than the price paid for it or its book value (cost less accumulated depreciation). The current value may be determined through appraisal. ...
lease computed as a percentage of the underlying appraised property value. Under the terms of a reappraisal lease, the rent is periodically adjusted using an independent appraisal of the ...
Loan mandating equal periodic payments to pay off the loan subsequent to the last payment. ...
Housing where affirmative action is actively pursued encouraging people of all races, nationalities, and religions to purchase or rent the facilities. ...
The term foraging comes from the old germanic language, which passed through Old French “fuerre” and “fourrage” and it means the search for wild food resources. ...
Have a question or comment?
We're here to help.