An Express Agreement, in the context of real estate, is a contract or understanding where the terms and conditions are explicitly stated by the parties involved. The agreement’s details are laid out in clear language, leaving no room for misunderstanding or interpretation.
Related Real Estate Terminology
- Contract: A legally binding agreement between two or more parties, enforceable by law.
- Implied Agreement: An agreement that is not stated outright but is inferred by the actions or conduct of the parties involved.
- Terms and Conditions: The specific elements of an agreement that outline the rights, obligations, and limitations of each party.
- Binding: A term used to signify that an agreement or contract is legally enforceable.
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