Conditional Contract To Sell Nha
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How to fill out Conditional Sales Contract?
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FAQ
A type of conditional contract is an option agreement. The option is given to a party to buy a particular property within a particular amount of time. If a party does not ?call? on the other party to sell them the property or buy the property at the set price within the option period, it lapses.
A conditional contract in insurance is an agreement between two parties in which one party agrees to provide insurance coverage to the other party if a certain event occurs. The event that must occur before the insurance coverage takes effect is typically specified in the contract.
In a conditional sales agreement, a buyer takes possession of an asset, but its title and right of repossession remain with the seller until the purchase price is fully paid. If the buyer defaults, the seller can repossess the property.
A contract of sale may be either absolute or conditional. When the property is actually sold to the buyer and transferred completely, it is considered absolute. If the parties annex conditions to the contract, it is conditional.
A conditional sale is an arrangement in which a buyer obtains possession of an asset but retains ownership and the right of repossession until the price is paid in full. The buyer can acquire property ownership as soon as the deal is signed.