Written Agreement Specifying The Conditions Terms And Rent For The Use Of An Asset
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NEGOTIABLE INSTRUMENT – Any written instrument that can be transferred by approval or delivery to transfer the right to the purchaser. EXCLUSIVE LISTING – A written list of real estate in which the seller agrees to appoint only one broker to sell the property for a specified period of time. The two types of exclusive offers are the exclusive agency and the exclusive right to sell. YEAR-TO-YEAR TENANCY – A periodic lease in which rent is reserved from year to year. In addition to the above, a car rental contract may contain various restrictions on how a tenant can use a car, and the condition in which it is to be returned. For example, some rents cannot be driven on or off the country without express permission or towing a trailer. In New Zealand, you may need to expressly confirm a promise that the car will not be driven on Ninety-Mile Beach (due to dangerous tides). MOIS-TO-MONTH TENANCY – A periodic lease where the tenant rents for one month. In the absence of a rental agreement (oral or written), a lease agreement is considered to be one month to the next or, in the case of boarders, from week to week. RESTRICTIVE COVENANT – A private agreement that is generally included in an act that limits the use and occupancy of real estate. FINANCIAL DECLARATION – A formal statement of the financial status and net assets of an individual or entity that defines and classifies assets and liabilities on the specified date. AGREEMENT OF SALE – An agreement between the seller (seller) and the buyer (sell) for the purchase of real estate. CONVEYANCE – The transfer of property to real estate through a written instrument such as a deed or lease.
FORECLOSURE – A legal procedure in which the property used as collateral for debt is sold to settle the debt in the event of default upon payment of the mortgage or the delay of other conditions in the mortgage document. Equally great is a great benefit for landowners and tenants when they hire real estate experts into such agreements. Real estate professionals are the best people to talk to because they can give the best advice for renting real estate. VARIANCE – Allow local authorities to set up or ensure the use of a structure, which is expressly prohibited by existing zoning laws; an exception to zone laws. ETHICS CODE – A written system of ethical standards. The Code of Ethics of the National Association of Realtors, first written in 1913, sets high standards of behaviour for members of the broker community. RESTRICTIONS – Restrictions on the use of the property. Private restrictions are created by restrictive agreements, which are enshrined in real estate instruments such as documents and leases.