Rhode Island Stipulations are legal agreements that must be followed when purchasing or selling a piece of property in the state of Rhode Island. These stipulations are governed by the Rhode Island Real Estate Transfer Act and are designed to protect buyers and sellers of real estate. There are two main types of Rhode Island Stipulations: financial and non-financial. Financial stipulations are related to the sale price, payment terms, and other financial arrangements between the buyer and seller. Non-financial stipulations include details regarding the condition of the property, occupancy, possession, and other matters that must be addressed during the real estate transaction. Both financial and non-financial stipulations must be in writing and signed by both parties in order to be legally binding. If any of the stipulations are not met, the transaction may be voided and the parties may be held liable for any damages incurred.
Rhode Island Stipulations
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