private treaty

noun
a property sale based on terms resulting from a conference between buyer and seller.

Origin:
1855–60

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World English Dictionary
private treaty
 
n
a sale of property for a price agreed directly between seller and buyer

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
Finally, private treaty sales may be used in determining appraisal values.
Back then livestock was sold by what's called private treaty.
In-state private treaty sales are permitted under the mandatory program.
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