receipt - (1) actual receipt: the literal possession by a party to a transaction of some document or notice material to the transaction. If Abel hand-delivers his acceptance of Baker's offer to purchase Abel's farm directly to Baker, Baker is said to have actual receipt of the acceptance. (2) constructive receipt: an income tax rule that a person is deemed to have received income for tax purposes when he or she is entitled to the money, whether or not he or she actually receives it. (3) deposit receipt: in some jurisdictions, a real estate purchase contract is also called a deposit receipt and serves as evidence of the buyer's good faith deposit.

© 2004 Bella Vista Publishing Company, Inc.  ISBN 0-9718225-0-6

.
	Copyright Protection:   This real estate web site is created in the United States of America and protected by copyright laws.  Permission should be obtained prior to any reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording or likewise.
.