Definition of "Waiver"

Dawn Crocker & Karen Baker-Anderson real estate agent
Dawn Crocker & Karen Baker-Anderson, Real Estate Agent Allen Tate Realtors-Matthews/Mint Hill

Deliberately and voluntarily giving up or delaying a claim or right arising from a contractual agreement or surrounding circumstances. An example is when a lender waives his right to receive a $10,000 monthly payment on June 30, and agrees to delay receipt of such payment for one month. Another example is when a bank waives its right to foreclosure on a house.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

 

Popular Real Estate Terms

Popular Real Estate Questions