COVENANT

COVENANT – David Reecher A formal agreement or contract between two parties in which one party gives the other certain promises and assurances, such as covenants of warranty in a warranty deed.... Read More

CONSUMMATION

CONSUMMATION – David Reecher Consummation is not the same thing as closing or settlement. Consummation occurs when the consumer becomes contractually obligated to the creditor on the loan, not, for ... Read More

CONDITIONS

CONDITIONS – David Reecher This refers to provisions in deeds and other real estate instruments that make a particular right contingent upon the occurrence of some future event.... Read More

CLOSING

CLOSING – David Reecher In some areas called a “settlement.” The process of completing a real estate transaction during which deeds, mortgages, leases and other required instruments are signed a... Read More