Definition, Meaning & Synonyms

holder-condition

noun

ˈhoʊldər kənˈdɪʃən

Definition

A legal term used to describe a situation where a holder of a contract or property rights must meet certain conditions to maintain their rights or benefits.

Examples

The loan agreement included a holder-condition that required the borrower to make payments on time.
In real estate, a holder-condition may stipulate that the property must be occupied for certain tax benefits to apply.

Meaning

The term refers to the specific responsibilities or criteria that a holder must fulfill to retain ownership or privileges regarding a contractual or legal agreement.