Real estate

Real estate

Of or pertaining to property of land and the buildings on it. This also includes any minerals, crops, or any other natural resource. The business of real estate is the buying, selling, or renting property.

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Real estate > Contracts

indemnity

Law; Contracts

A promise by a third party to pay a debt owed, or repay a loss caused, by another party. Unlike a guarantee, the person owed can get the money direct from the indemnifier without ...

insolvency

Law; Contracts

The situation where a person or business cannot pay its debts as they fall due (see bankruptcy, liquidation and receivership).

liquidation

Law; Contracts

The formal breaking up of a company or partnership by realising (selling or transferring to pay a debt) the assets of the business. This usually happens when the business is ...

receivership

Law; Contracts

The appointment of a licensed insolvency practitioner to take over the running of a company. A creditor with a secured debt appoints the receiver. The job of the receiver is to ...

bankruptcy

Law; Contracts

The formal recognition that a person cannot pay their debts as they are due. Note this only applies to individuals, companies and partnerships that become insolvent are wound up.