Nunc Pro Tunc
Definition of "Nunc pro tunc"
Latin: now for then. Descriptive of actions which are performed after a deadline has elapsed, but retroactively have the same effect as if they were carried out in a timely manner. For example, a property title is transferred to a new owner. The wife of the original owner, who owned the property jointly, never signed the deed. The subsequent owner seeks to sell the property to a third buyer when the wife's missing signature is discovered by a title company prior to issuing title insurance. There is now a cloud on the title and the legality of the sale to the second owner could be challenged. However, the wife of the first owner agrees to sign the title nunc pro tunc.
Popular Real Estate Terms
Capability of a party to enter into a contract such as having the financial and physical resources as well as mental competency to meet contractual commitments. ...
Repairing the street for safety and attractiveness. In some localities, such as on Long Island, the home owner is responsible for properly maintaining the street surrounding his home. ...
The appellant definition references a concept related to legal proceedings. The appellant is the individual who is dissatisfied with the judgment in a lawsuit and asks for a superior court ...
Ask Price is the initial listed price for a piece of real estate.It’s important to understand that, in the real estate world, there’s no such thing as a fixed price when buying ...
Claim by a real estate broker that his or her actions were the principal cause of the completion of a property sale between two parties. A successful procuring cause claim would entitle a ...
Property taken over by the government because the owner has failed to pay taxes on it. The property may revert back to the owner when the taxes are paid. If not, the government may sell the ...
An individual appointed by a court to manage the affairs and property of a legally incompetent party. The conservator has full decision-making authority over the affairs of the property in ...
A person has the option of canceling a contract previously agreed to. ...
Derogative term describing a high-pressure telemarketing office where sales personnel often use extremely exaggerated claims as well as intense sales practices to convince targets clients ...
Have a question or comment?
We're here to help.