definition
strict definition
listing type
The general transaction terms under which a listed property is available for purchase, lease, or another specified arrangement.
The listing type indicates the terms under which a listed property is available, particularly whether it is to be sold or let.
The terms identify the kind of rights being offered. A sale and a lease offer different forms of possession or use.
The listing type is separate from the availability date. One describes the transaction arrangement, while the other specifies when the property becomes available for its agreed purpose.
More specific definitions
4 sub-definitions-
lease
A contract granting a party other than the owner occupancy or usage rights to a property for a predetermined period. -
sale
A contract or legal agreement transferring full ownership of a property from one person or entity to another. -
sub-lease
A usage agreement between a party seeking to use a property and the party already holding leasing rights to it. -
time-share
A permanent sale of property occupancy and usage rights limited to a specified, usually recurring time slot.