google bot detected Waiver | Real Estate Glossary |


Definition of "Waiver"

Naomi Preston
  Biscayne Realty Group

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.

Related Real Estate Glossary terms

Related Real Estate FAQ