google bot detected Ostensible | Real Estate Glossary |


Definition of "Ostensible"

  1. Alleged to be real or genuine.
  2. What appears to be such as a real estate agent's seeming authority to act on behalf of a principal. However, the agent may not in fact have real authority. In law, one dealing with the agent may reasonably rely on the apparent representations. Assume the principal instructs his real estate agent not to sell a house for less than $200,000. If it is sold for $175,000 to a buyer who has reason to rely on the agent's actions, the property has been legally transferred. The principal may sue the real estate broker for breach of contract.

Related Real Estate Glossary terms

Related Real Estate FAQ