Receipting for a property

Receipting for a property – this term details a situation, where people wish to keep the existing burden on property, without exercising physical control on it. They deliver the possession of the property to a third party. Who acknowledges the existing burden and promises to keep the property in good condition. Also to uses and maintains it in favor of the creditors.

See also “Repossession”

Receipting / Legal Glossary

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