Definitions for "Missives"
The formal written offer to purchase and the acceptance (Scotland only).
This is the first stage in the conveyance of property in Scotland. A missive is a document in letter form exchanged between the seller and purchaser of a property usually written by their respective solicitors as agents. Once the missives are concluded, the purchaser has a contractual, ie personal right to demand that the seller perform his obligation to convey the property. For the second and third stages of conveyancing, see " disposition", " Land Register" and " Register of Sasines".
In Scotland, the name given to a contract
the Scottish equivalent of exchanging contracts. No deposit is required but missives are legally binding.
The legal documents involved in the buying and selling of property. Once signed by both parties, the transaction is binding.