Notice Of Cancellation Clause
Definition of "Notice of cancellation clause"
- A notice, usually in writing, in which notice of termination is given by one individual or business to another. It is pursuant to a cancellation provision in a contract to forestall future liability.
- in insurance, a notice given between an insurer and a reinsure or an insurer and an insured of the termination of a contract or policy at the time of renewal, or, in the latter case, for nonpayment of premium payments. A notice of cancellation can also be issued for a current policy when a renegotiation of its terms is desired. The cancellation of insurance on a home, apartment house, or office building is a serious matter.
Popular Real Estate Terms
Private company established in 1957 and headquartered in Milwaukee, WI, providing private mortgage insurance (PMI) to mortgage lenders granting mortgages to mortgagors not having at least a ...
Established federal, state or local structural building requirements that have to be adhered to so as to receive certification by the government authority. Housing code enforcement is ...
Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
Tank placed beneath the ground to accumulate sewage. ...
Evaluating a locality to determine its value and appropriateness for designated objectives. ...
Style of home emphasizing symmetry and balance. ...
Payment made by the tenant to the landlord for the right to use property, such as an apartment or office. ...
Scarcity is a fundamental term in economics, mirroring the limited resources and needs gap. The shortage demands consumers to make logical decisions on spending their money efficiently. ...
See before-tax cash flow; cash flow. ...
Have a question or comment?
We're here to help.