Contractual Ability
Definition of "Contractual ability"
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.
Popular Real Estate Terms
Are you speculating what a spec house means? (sorry for the lousy pun) The textbook spec (or speculative) house definition is “one built on an experimental basis, without an order ...
Regularly, subsequent means something which occurs at a later date. In other words, a subsequent event follows a prior occurrence. For example, new circumstances arise after a contract is ...
The number of units currently occupied in a facility, neighborhood, or city, stated as a percentage of total capacity. For example, a hotel has 80 rooms available for guests. Its average ...
The term “property title” is relatively common and often used in the real estate industry, which is why it’s useful to know what it really means. While the term itself is ...
Drilled well where water rises through the opening because of naturally occurring water pressure. ...
Condensed appraisal report covering the major items. ...
When talking about the open space ratio we are referring to a term that is used in zoning laws and regulations. The open space ratio is a term used to measure open space on a developed land ...
Method of describing a real estate property offering by a developer in lieu of a prospectus. ...
Organizational governing group. Either an appointed or elected body overseeing the management of an organization and rendering advice on current issues. Members are legally responsible for ...
Have a question or comment?
We're here to help.