sunset clause

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Related to Subset Clauses: Sunset provision

Sunset Clause

A clause in a law or regulation automatically abolishing that law or regulation after a stated period of time. In order for the law or regulation to continue to have effect, specific action must be taken. A law or regulation without a sunset clause continues indefinitely. The U.S. state of Texas has sunset clauses abolishing nearly every state agency every 12 years unless they are specifically renewed.
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sunset clause

A provision in a sales contract that sets a date for closing and after which the contract will be unenforceable except for provisions related to damages or earnest money refund or retention.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.