Property News
Glossary of terms:
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OPTION: An offer made to a person, coupled with an undertaking by the person making the offer (the offeror) not to revoke his offer for a specified period. The person to whom the offer is made (the offeree) is then said to have an option. The option is exercised when the offer is accepted timeously. An option falls away if the offer in not accepted by the offeree before the expiry date
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IMMOVABLE PROPERTY: Land and everything attached to it.
(Estate Agency Affairs Board) |
