One to whom an obligation (promise) is owned.
One who legally binds (obligates) oneself, such as the maker of a promissory note.
Offer to Purchase
A property purchase transaction in which the party selling the property provides all or part of the financing. Offer to Purchase also refers to the standard contract used between a seller and a buyer to formalize the purchase of real estate.
The purchase price of property, paid by the present owner. The present owner may or may not be the first owner.
A title insurance policy used to insure title to real property that a purchaser is acquiring.