Release of Lot Clauses: Contract for Real Property is an agreement between two parties, usually a buyer and seller, that allows the buyer to terminate a contract for the purchase of real property with the seller. This clause is used to protect the buyer when unforeseen circumstances occur that prevent them from buying the property. There are two types of Release of Lot Clauses: Contract for Real Property: unilateral release and bilateral release. Unilateral release allows the buyer to terminate the contract without the seller’s approval. Bilateral release requires approval from both parties in order to terminate the contract. Both types of Release of Lot Clauses: Contract for Real Property must include the specific reasons that the buyer has for wanting to terminate the contract, and a time limit for when the buyer must notify the seller of their intention to terminate.
Release of Lot Clauses: Contract for Real Property
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How to fill out Release Of Lot Clauses: Contract For Real Property?
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FAQ
A buyout clause or release clause refers to a clause in a contract that imposes an obligation on another organisation wishing to acquire the services of the employee under contract to pay the (usually substantial) fee of the clause to the organisation which issued the contract and currently employs the employee.
Lot Release Price means the agreed-upon release price for each Lot under each Guidance Loan. The Lot Release Price for existing Projects is shown on each Guidance Loan Addendum and incorporated herein by this reference.
A release clause is a contract provision that frees the ownership of a property from a creditor. This ownership allows for its freeing once you pay off a portion or the full amount of the mortgage specified within the contract.
Minimum Release Price means with respect to any Loan, an amount equal to the greater of (i) the portion of the Repurchase Price allocable to such Loan, and (ii) the full amount of proceeds received in connection with the sale of such Loan.
Release Price means an amount equal to the outstanding Loan Balance of the Pledged Loan as of the date on which the release is to be made, plus accrued and unpaid interest thereon to the date of such release.
Minimum Release Amount Specifies the smallest currency amount for any single release of goods during the life of a blanket or contract purchase agreement.
Minimum Release Date - Earliest scheduled date an inmate can be released to probation or end of sentence.
The lender may require that in order to approve a sale of an individual lot, and thus release the collateral from the loan, that the developer must pay 150% of the lot's allocated balance.
