Executory contract
A contract that's been signed but not yet fully performed. A signed purchase agreement is executory until closing happens.
Your Room opens on this part of the sale, with the offer and everything before it already ticked.
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See how it worksWhere this comes up: under contract
Part 1 of 4
Why a seller cares
From signing to closing the contract is executory: both sides have promised and neither has finished. That stretch is when every deadline, contingency and default clause actually matters.
Part 2 of 4
A simple example
You and the buyer sign on March 1 with closing set for April 15. For those six weeks the contract is executory, and each side still has things to do.
| The moment | The contract's state |
|---|---|
| Both signatures delivered | Executory: promises made, nothing performed yet |
| Inspection done, loan approved, title clear | Still executory; the deed has not passed |
| Deed recorded and money paid | Performed; the contract has done its job |
Executory is the whole under-contract stretch, said in one word.
Part 3 of 4
What people get wrong
That signing means the home is sold. It is promised. Sold is the day the deed and the money change hands.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines executory contract in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.