If you fail to make your payments, you lose the right to occupy your home and are no longer considered the owner. You own the house, so long as you pay your monthly fees. It could be a breeding clause in any animals you buy: if those animals go on to produce new animals, you may owe the original owner a set fee.Ī mortgage is another form of conditional sale. This could be something like selling the family car to your child if they get a certain GPA. In other words, there’s no debt involved: the whole monetary bill was paid in full.Īs its name suggests, a bill is considered conditional when you need to meet certain conditions for ownership. A bill is considered “absolute” when transfer of ownership of a specific property, whatever it may be, is full and complete.
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