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A future and uncertain event that determines whether or not there will be a contractual obligation or liability. Conditions may be express or implied, possible or impossible, lawful or unlawful, affirmative or negative, precedent or subsequent, positive or negative, and, finally, single, copulative,or disjunctive.Each type of condition has different legal consequences.

Examples of the most common types encountered in real estate are

• Express. If the purchaser cannot obtain financing, the purchaser may cancel the contract.

• Implied. If the seller burns down the house the day before closing, the purchaser may cancel the contract.

• Lawful. If the broker produces a buyer willing and able to pay the asking price, the seller will pay a commission of 6 percent of that price.

• Unlawful. If the broker produces a buyer willing and able to pay at least $125,000, the broker will be paid all the purchase price in excess of $125,000.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Formation of pitched roof over existing flat roof at unit 3,Tinwald Downs Road, Heathhall, Dumfries - granted conditionally.
He was discharged conditionally for six months and ordered to pay a PS20 victim surcharge.
The nomination forms of Shahzain Bugti of JWP, and Wadera Ramazan Silachi of BNP submitted for NA-265 Sibi seat were accepted conditionally.
Clothianidin, which has been on the market since 2003, is one of many pesticides the NRDC says the EPA has conditionally approved without thorough evaluation.
Mark Shaun O'Neill, 29, of Leybourne Terrace, Stockton, discharged conditionally for six months, and ordered to pay costs of pounds 85, for being drunk and disorderly.
Gibbons (33), also of Dovecote Close, and Pandhal (25), of Meschines Street, Coventry, were conditionally discharged for 18 months and ordered to pay pounds 150 costs.
Alterations and change of use from farm building to house at Stenhouse Farm, Tynron, Thornhill - granted conditionally. Alterations and extension atThe Maltings, Mansegate, Dunscore - granted conditionally.
They were conditionally discharged for 12 months and ordered to pay PS85 costs, a PS15 victim surcharge, and PS4.81 compensation.
He was conditionally discharged for 12 months, and told to pay a PS15 victim surcharge and PS85 costs.
M2 EQUITYBITES-May 31, 2013-Blur Group conditionally raises USD11.5m via stock sale(C)2013 M2 COMMUNICATIONS
Adrian Morrell, 39, of Forest Park, Stillington, Stockton, discharged conditionally for 12 months and ordered to pay costs of pounds 40, for possession of a Class C drug.
International Resource News-December 13, 2010--Kalahari Minerals PLC conditionally raises GBP41.76m(C)1994-2010 ENPublishing -

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