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Null And Void
Null and void refers to a contract or agreement that has no legal basis and therefore not legally binding to the parties involved.
The supposed agreement made between all parties cannot be legally enforced.
For example, a home buyer would be unable to get a court order to purchase a property if the option to purchase has expired and the seller chose to sell to someone else instead.
From the perspective of the buyer, he or she might feel that the option is still enforceable, but it is not by law.
Null and void don’t necessarily refer to just contracts but can refer to specific clauses and provisions stated in a contract.
This can occur for example, when covenants are place in a deed which are not enforceable according to the law.
These reasons, which can often be costly mistakes, are why the advice of lawyers are often suggested when signing contracts regarding real estate.
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