Private Treaty (Noun)
Meaning
A sale of property at a price agreed on by the seller and buyer without an intervening agency.
Classification
Nouns denoting acts or actions.
Examples
- The couple sold their beachside home through a private treaty to a buyer they met through a mutual friend.
- After weeks of negotiation, the farmer and the investor finally reached a private treaty on the sale of the rural property.
- The vendor and the purchaser agreed to keep the details of the private treaty confidential to avoid attracting unwanted attention.
- The private treaty allowed the buyer to acquire the office building at a significantly lower price than the market value.
- The property agent acted as a facilitator in the private treaty, ensuring a smooth transfer of ownership without any complications.