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
Table demonstrating the relationship between the depth of a building lot form the street frontage and its market value. Street frontage is the greatest asset of a land parcel. The ...
The person giving property or establishing a trust. ...
Any written evidence or tangible material which can be reproduced as written material which is coherent and related to the subject at hand. This includes documents, contracts, inscriptions ...
Method of construction where vertical siding is attached to a horizontal framing structure. Often found in the design of agricultural buildings. ...
Founded in 1942 and located in Washington DC, the NAHB has 155,000 members with 824 local groups. Its membership consists of single, multifamily and commercial home builders. The NAHB ...
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. ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
group of at least two people or businesses combining to engage in a real estate project that would exceed their individual financial abilities. A syndication allows earning to be ...
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license. ...
Have a question or comment?
We're here to help.