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.
1. âConditionalâ. A conditional bill of sale transfers ownership of the item to the purchaser only after they have paid all money owed to the seller. For example, the document is first used to record that both the seller and purchaser agree to transfer ownership of an item like a car if certain conditions are fulfilled. Then, a promissory note is used to record how the purchaser will pay the seller over time. 2. âAbsoluteâ.