Modification refers to a change or alteration made to a clause within a contract agreement to accommodate the preferences or needs of the involved parties. This change must be agreed upon and initialed by all parties to become legally binding.
With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!