Dictionary

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Waive

To relinquish or abandon to forego a right to enforce or require anything.

Waiver

A waiver is the voluntary action of a person or party that removes that person's or party's right or particular ability in an agreement.

Warm Shell

A commercial or residential building with a minimally finished interior, a heating and cooling (HVAC) system, drop ceilings, plumbing and restrooms, and interior lighting.

Warranty Deed

A warranty deed is one in which a property owner, when transferring the title, warrants that he or she owns the property free and clear of all liens. A warranty deed is used in most property sales. The warranty deed says that: The grantor is the rightful owner and has the right to transfer the title. A deed used to convey real property which contains warranties of titles and quite possession. In a warranty deed, the grantor agrees to defend the premises against the lawful claims of third person.

Warranty of Title

A warranty of title is a guarantee by a seller to a buyer that the seller has the right to transfer ownership and no one else has rights to the property.

Workout Agreement

A workout agreement is a mutual agreement between a lender and borrower to renegotiate terms on a loan that is in default. The workout includes waiving any existing defaults and restructuring the loan's terms and covenants.