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.
The sellers of a property in contingent or active contingent status have also accepted an offer to buy the home. But with a contingent listing, the contract is contingent upon the buyerâs ability to sell his existing home, i.e., if the buyer doesnât sell his home, he is able to back out of the contract.