Contract For The Purchase And Sale Of Residential Real Property Law and Legal Definition

According to 24 CFR 35.86 [Title 24. Housing And Urban Development; Subtitle A. Office Of The Secretary, Department Of Housing And Urban Development; Part 35. Lead-Based Paint Poisoning Prevention In Certain Residential Structure; Subpart A. Disclosure Of Known Lead-Based Paint Hazards Upon Sale Or Lease Of Residential Property], ‘ contract for the purchase and sale of residential real property’ means any contract or agreement in which one party agrees to purchase an interest in real property on which there is situated one or more residential dwellings used or occupied, or intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.