Definition of legislative. 1  1a : having the power or performing the function of legislatingb : belonging to the branch of government that is charged with such powers as making laws, levying and collecting taxes, and making financial appropriations â compare executive, judicial.
The purchase agreement is contingent on the buyer's approval of this report and any other matters affecting the title. The preliminary title report lists liens and other encumbrances on the property, as well as any defects in the seller's chain of title discovered during the title search.
It means an offer has been made and accepted. However the offer is contingent--that is, dependent--on some other factors. One common contingency is getting financing. The buyer is saying: I'm willing to buy your home for $x. However, this offer is contingent on my getting approved for financing to buy your house.