Posted on: 08th May, 2011 09:22 am
My grandmother passed away in 6/2008 and she had received the title for the house she had paid on for many years....We have since received a letter stating that she owes a recapture receivable account and the account may continue to be deferred until transfer title or vacating the property. Can you please explain what this recapture receivable account is or what it means?! This would be ever so helpful. Thank you.
Welcome cybercynphoni,
Recapture receivable contract is a stipulation that allows the seller of an asset to retain/retrieve partial asset ownership. For example, the seller of real estate may be able to gain some of the income generated by the property. The recapture agreement is usually valid within a given time period.
Recapture receivable contract is a stipulation that allows the seller of an asset to retain/retrieve partial asset ownership. For example, the seller of real estate may be able to gain some of the income generated by the property. The recapture agreement is usually valid within a given time period.