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Real Estate Glossary

Arrears

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Richard Wilson
Written by Richard Wilson

This refers to an overdue payment. Arrears is a financial or legal term often describing a liability or obligation that has not been paid for by the agreed-upon due date. If one or more payments have been missed in contractually required payments such as rent and mortgage, then the account is considered in arrears.

This refers to an overdue payment. Arrears is a financial or legal term often describing a liability or obligation that has not been paid for by the agreed-upon due date. If one or more payments have been missed in contractually required payments such as rent and mortgage, then the account is considered in arrears.

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Richard Wilson

Richard Wilson

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