what is the difference between deed of absolute sale and deed of conditional sale?
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An absolute sale takes place without conditions. The title is transferred by the seller to the buyer without any restrictions other than payment of an agreed-upon amount of money. Conditional sale is a real estate transaction where the parties have set conditions.
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Bargain and sale deed: This label may describe a deed that says it conveys a particular estate to the grantee but that doesn't warrant title to that estate. Quitclaim deed: A quitclaim deed doesn't purport to convey any particular estate at all.
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It may be a partial interest in the property or it may be the full. However, because you have title, you can access the land and potentially modify it as you see fit. ... Deeds, on the other hand, are actually the legal documents that transfer title from one person to another.
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Like all deeds, these two legal documents are both used to transfer titles from one owner to another. A warranty deed protects property owners from future claims that someone else actually owns a portion (or all) of their property, while trustee deeds protect lenders when borrowers default on their mortgage loans.
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The underlying theory is that a deed is intended to create a 'solemn promise' by one party to another, whereas a contract is more in the nature of a bargain between two parties. (Having said that, a deed is often used by businesses to exchange something of value in the same way as a contract).
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The basic difference between the mortgage as a security instrument and a Deed of Trust is that in a Deed of Trust there are three parties involved, the borrower, the lender, and a trustee, whereas in a mortgage document there are only two parties involved, the borrower and the lender.
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The main difference between the two selling formats is that one is a personal transaction (the buyer and seller usually talk prior to the transaction) while the other is very impersonal (purchases often occur without a direct conversation). Also, buyers commonly do targeted searches when using an eMarketspace.
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A local authority search comes in two parts, referred to as a LLC1 and a CON29. These searches make sure you know as much as possible about the property you are buying prior to exchange of contracts. The Local Land Charges Register Search (LLC1) covers: Any planning agreements and conditional planning permissions.
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A sale deed is an instrument by which right and title of a property transfers to other person. On the other hand Power of Attorney is to authorise someone on your behalf. One can choose which acts power of attorney holder can perform on his/her behalf.
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What is the primary difference between fee simple absolute estate and a qualified fee estate? Fee simple absolute estates have no conditions the owner can do as he/she wishes. Qualified fee estate - the owners rights can be lost in the future should a stated event or condition come to pass.
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A grant deed is the instrument used to transfer title to an interest in real property from one owner to someone else. ... A deed of trust is the security instrument given to a lender to secure a loan or other obligation. Bare naked title is deeded to the trustee, who holds the power of sale or the power to re-convey.
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When a property is marked as contingent, an offer has been accepted by the seller. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. If all goes well, contingent deals will advance to a pending state.
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Some authors make a distinction between unconditional love and conditional love. In conditional love, love is 'earned' on the basis of conscious or unconscious conditions being met by the lover, whereas in unconditional love, love is "given freely" to the loved one "no matter what".
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Conditional & absolute convergence. "Absolute convergence" means a series will converge even when you take the absolute value of each term, while "Conditional convergence" means the series converges but not absolutely.
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Under a hire purchase agreement the consumer is under no obligation to take title of the goods, whereas under a conditional sale agreement, the transfer of the title of the goods happens automatically following the completion of the condition.
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A deed is the physical legal document whereas title is the name that describes a person's legal position regarding something. Deeds are official written documents, and in most states are required to be recorded in a courthouse or assessor's office.
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First off, your vehicle must be lien-free. For “absolute sale,” the seller pays a $71.50 auction fee. For “protected price,” the seller pays a $200 fee (whether or not sold), which includes an appraisal. As noted, any excess over the “protected price” is split evenly between the auction house and the seller.