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estate contract


'estate contract' can also refer to...

 

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A contract in which the owner of land agrees to create or convey a legal estate in the land; for example, he may contract to grant a lease or to sell or he may grant a valid option to purchase. The contract confers on the purchaser an equitable interest that is enforceable against third parties if registered. See registration of encumbrances.

Subjects: Law.


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