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Contract provision property 2025

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The document outlines a contract provision that allows a repair shop owner to place a lien on property left for repair if the owner fails to pay the associated repair charges. It specifies the owner's obligation to cover all repair expenses and details the process for selling the item at auction if payment is not made within a specified timeframe. Any excess funds from the sale, after covering costs, will be returned to the property owner.

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What is a provision in real estate?

A provision in a contract stipulates a condition or requirement. A clause is a section or subsection written into a contract, which may contain one or more provisions within it.

What is a contract provision?

It is a provision that states that the parties have included all of the terms of their agreement within the contract, and nothing else is applicable. This clause ensures that no additional terms or conditions are added to the agreement without the consent of all parties.

What is the purpose of the entire contract provision?

Understanding what makes a contract unenforceable is crucial for anyone entering an agreement. Among other things, A contract can become unenforceable when it lacks mutual consent, involves illegal activities, or when a party lacks the capacity to understand the terms.

What is an estate provision?

Therefore, California courts have held that the effect of an as-is provision is to cause the buyer to take the property in the condition visible or observable to him. As explained by one court, an as is provision may be effective as to a dilapidated stairway but not as to a missing structural member, a

What is a provision in a real estate contract?

The provision typically requires the purchaser to make a good faith attempt to comply with all the requirements necessary to secure mortgage approval. This clause allows the purchaser to avoid the risk of losing his down payment if his mortgage application fails through no fault of his own.