{"id":902,"count":1,"description":"\r\n\r\nJump to: \r\nWhat is irrevocable?<\/a>\r\nWhat is irrevocable in real estate?<\/a>\r\n\r\nWhat is irrevocable?\r\n\r\nTo say that something is irrevocable means that it cannot be changed, reversed or recovered. It is final.\r\n\r\n\r\n\r\n\r\nWhat is irrevocable in real estate?\r\n\r\nThere are several instances where this term applies in real estate, either commercial or residential.\r\n \r\nIrrevocable trust \u2013 whereby an entity gives real estate into the care and administration of a trust. If the owner is neither beneficiary, nor trustee of that that trust, the owner is essentially giving away that property.\r\n \r\nIrrevocable offer \u2013 an offer to sell or to buy that is made \u201cas is\u201d (\u201ctake it or leave it\u201d). When the offer is made, the contract may also specify an irrevocable time. If time is not specified in the contract, a reasonable period is assumed by law (this differs by jurisdiction). If the offer is withdrawn early, the offeror is liable for damages, as it constitutes a breach of contract.\r\n \r\nIrrevocable time\/Irrevocable period \u2013 amount of time that is reserved for a party to decide on whether accepting or declining an offer that was put forward. Irrevocable time is the deadline. \r\n\r\n\r\n\r\n\r\nYou might also be interested in:\r\n\r\nWhat is default?<\/a>\r\nWhat is eminent domain?<\/a>\r\nWhat is endorsement?<\/a>\r\n\r\n\r\n\r\n\r\n\r\n\r\nSearch other terms\r\n\r\n\r\nA<\/a>\r\nB<\/a>\r\nC<\/a>\r\nD<\/a>\r\n\r\n\r\nE<\/a>\r\nF<\/a>\r\nG<\/a>\r\nH<\/a>\r\n\r\n\r\nI<\/a>\r\nJ<\/a>\r\nK<\/a>\r\nL<\/a>\r\n\r\n\r\nM<\/a>\r\nN<\/a>\r\nO<\/a>\r\nP<\/a>\r\n\r\n\r\nQ<\/a>\r\nR<\/a>\r\nS<\/a>\r\nT<\/a>\r\n\r\n\r\nU<\/a>\r\nV<\/a>\r\nW<\/a>\r\nX<\/a>\r\n\r\n\r\nY<\/a>\r\nZ<\/a>\r\n\r\n\r\n\r\n\r\n\r\nPopular terms\r\n\r\n\r\n\r\n\r\nAmortization<\/a>\r\n\r\n\r\nEquity <\/a>\r\n\r\n\r\nNotary Public <\/a>\r\n\r\n\r\nProgression\/Regression<\/a>\r\n\r\n\r\nAcquisition <\/a>\r\n\r\n\r\nAnnuity <\/a>\r\n\r\n\r\nAsset <\/a>\r\n \r\n \r\n Fiduciary <\/a>\r\n\r\n \r\n Inflation <\/a>\r\n\r\n \r\n Contingency <\/a>\r\n\r\n \r\n Escrow<\/a>\r\n\r\n \r\n Power of attorney <\/a>\r\n\r\n \r\n Real Estate Agent <\/a>\r\n\r\n \r\n Eminent Domain <\/a>\r\n\r\n \r\n Liability <\/a>\r\n\r\n \r\n Statute of Limitations<\/a>\r\n\r\n \r\n Valid <\/a>\r\n\r\n \r\n Variance<\/a>\r\n\r\n \r\n Contiguous <\/a>\r\n\r\n \r\n Deficit<\/a>\r\n\r\n\r\n\r\n\r\n","link":"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-irrevocable\/","name":"Irrevocable","slug":"cre-term-irrevocable","taxonomy":"post_tag","meta":[],"yoast_head":"\nWhat is Irrevocable - Commercial Real Estate Dictionary<\/title>\n<meta name=\"description\" content=\"Irrevocable trust \u2013 whereby an entity gives real estate into the care and administration of a trust. If the owner is neither beneficiary, nor trustee of that that trust, the owner is essentially giving away that property.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialcafe.com\/blog\/tag\/cre-term-irrevocable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irrevocable Archives\" \/>\n<meta property=\"og:description\" content=\"Irrevocable trust \u2013 whereby an entity gives real estate into the care and administration of a trust. 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