A real estate contract is a contract for the purchase/sale, exchange, or other conveyance of real estate between parties. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds. Freehold ("More permanent") conveyances of real estate are covered by real estate contracts, including conveying fee simple title, life estates, remainder estates, and freehold easements. Real estate contracts are typically bilateral contracts (i. e., agreed to by two parties) and should have the legal requirements specified by contract law in general and should also be in writing to be enforceable.
Read more about Real Estate Contract: Financial Qualifications of Buyer(s)
Famous quotes containing the words real, estate and/or contract:
“Although there are not real winners or losers, in games of pretending children soon learn that the game ends when mutuality ends.”
—Joanne E. Oppenheim (20th century)
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—George Bernard Shaw (1856–1950)