An arbiter is an individual settling any legal dispute, or possessing the final authority in any aspect. This also means any individual with actions/views which may impact any specific aspect.
An arbiter means any individual with the sanction/power for settling or deciding any legal dispute. It also means any agency or individual whose opinion, counsel, or judgment is taken into consideration.
The term arbiter is applicable to the real estate sector, whenever there are any legal disputes in the industry. These disputes may happen between buyers and sellers, builders/developers and buyers, and other parties involved in legal real estate transactions. Arbiters may be required for settling disputes in a transparent and fair manner in several cases, and may be appointed by real estate authorities or regulatory bodies for this purpose.
