Habendum Clause

Habendum Clause,

Definition of Habendum Clause:

  1. A habendum clause is a section of a contract that deals with property rights, interests, and other aspects of ownership being given to one of the parties to a deal. Consisting of basic legal language, it is usually included in property-related documents.

  2. A section found in real estate contracts which grants transfer of property ownership with no restrictions. The owner of a property with such a clause is considered to have absolute ownership, and may therefore sell or bequeath the property as seen fit, subject only to government laws and powers. Also called to have and to hold clause.

  3. Most people are have experience with it through real estate transfers, but it is also used in all manner of leases and deeds, especially in the oil and gas industry.

How to use Habendum Clause in a sentence?

  1. Usually included in property lease or transfer documents, a habendum clause is section of a contract that deals with rights, interests, and other aspects of ownership being given to one of the parties.
  2. In oil/gas contracts, the habendum clause sets out the primary term during which a company holds the mineral rights to the land but is not obligated to start exploration.
  3. In real estate purchase contracts, the habendum clauses deals with the transfer of ownership, usually (but not always) without restriction.
  4. In real estate leases, the habendum clause deals with the lessee's rights and interests.

Meaning of Habendum Clause & Habendum Clause Definition

Habendum Clause,

What is The Definition of Habendum Clause?

  1. The habendum clause is part of an agreement that regulates property rights, interests and other aspects of property that are deemed to be a transaction between one of the parties. It consists of the basic legal language commonly found in real estate documents.

    • The habendum clause is usually found in the transfer of lease or ownership documents and is part of an agreement that deals with the rights, interests and other aspects of ownership granted to a party.
    • In the case of real estate leases, the credit clause relates to the rights and interests of the tenants.
    • In property sales contracts, usually (but not always) the habendum clause provides for the transfer of ownership without limitation.
    • In the oil and gas agreement, the Habendum clause defines the central term during which a company acquires mineral rights to land, but does not need to start exploring it.

Literal Meanings of Habendum Clause

Habendum:

Meanings of Habendum:
  1. The part of the process or transfer that determines the amount of inheritance or interest payable. For example, the term of the lease.

Sentences of Habendum
  1. Assuming that this period can be interpreted as such, the petitioner claims that Hobendum does not comply with the terms of the concessions and is therefore incorrect.

Clause:

Meanings of Clause:
  1. A unit of grammatical organization at the very bottom of serial sentences and in traditional grammar, consisting of an article and a prediction.

  2. Articles, terms or reservations in an agreement, law or agreement are specific and different.

Sentences of Clause
  1. In the above sentence, the two clauses have been merged without joining.

  2. Contracts usually choose the terms of the law that define the applicable law.

Synonyms of Clause

word group, phrasal idiom, paragraph, part, set phrase, passage, heading, section, idiom, locution, construction, point, idiomatic expression, note, turn of phrase, group of words, expression, subsection, term, phrasal verb, wording, article, item, clause