Bilateral Contracts vs Unilateral Contracts Image

Bilateral Contracts vs Unilateral Contracts

Contracts are used personally and professionally. The two types of contracts are unilateral and bilateral. The difference between the two is in the number of parties involved. In a unilateral contract, only one party makes a promise, while in a …

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Escrow Definition

Often you will hear real estate agents say a home is “in escrow.” What does that mean? Is escrow a place? Is escrow even needed? Today we are going to find out all the answers! Escrow is a term used …

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Appurtenant Definition

Appurtenance? Appurtenant? What does it all mean? For starters, appurtenant is a legal term to describe an object attached to something. Appurtenance is an item itself once it becomes part of the property. These two terms come into play in …

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Water Rights Definition

Having land connected to water can be a huge plus for some property owners. It also can be sought after by businesses. Water rights can be somewhat complicated when it comes to the legality, but don’t worry; that’s what we’re …

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Bundle of Rights

Bundle of Rights Definition

Real estate property holds with it specific rights. These legal rights can be split up and given to different parties and are called the bundle of rights. What is the Bundle of Rights? Definition: When a person purchases property, he …

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