Arbitrage Definition In Real Estate In Miami-Dade
Category:
State:
Multi-State
County:
Miami-Dade
Control #:
US-00416-1
Format:
Word;
Rich Text
Instant download
Description
The Arbitration Agreement outlines the terms under which disputes related to the purchase of a manufactured home will be resolved through binding arbitration, specifically in the context of real estate transactions in Miami-Dade. Arbitrage in real estate refers to the practice of profiting from discrepancies in property pricing, yet this Agreement focuses on the resolution of claims and disputes that arise from the contractual relationship between purchasers and retailers within a legal framework. Key features include the binding arbitration conducted under the American Arbitration Association's guidelines, with specific thresholds for claim amounts dictating the number of arbitrators involved. Users are instructed to initiate arbitration by providing written notice, detailing the nature of the dispute. The Agreement mandates arbitrators to be experienced attorneys, ensures a final and binding decision, and waives the right to jury trials, emphasizing the informal and expedited nature of arbitration. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear process for dispute resolution, encouraging efficient handling of real estate transactions. By using this Agreement, involved parties can avoid lengthy court proceedings while clearly understanding their rights and responsibilities in the arbitration process.
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