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How to fill out the TREC 15-5 online
The TREC 15-5 form, known as the seller's temporary residential lease, is a crucial document for real estate transactions where the seller remains in the property for no more than 90 days after closing. This guide provides clear and step-by-step instructions to help users fill out the TREC 15-5 form efficiently and accurately online.
Follow the steps to complete the TREC 15-5 form online.
- Click ‘Get Form’ button to access the document and open it in your preferred editing interface.
- In the first section titled 'Parties,' enter the names of the Landlord and Tenant, clearly identifying the roles involved in the lease agreement.
- Provide the address of the property in the 'Lease' section, ensuring it matches the details in the sale contract.
- Specify the term of the lease by entering the start date, which should be the date the sale is closed and funded.
- In the 'Rental' section, indicate the daily rental amount, and note that the full rental payment is due at the time of funding. Make sure to understand that no refunds will be granted for early termination caused by the Tenant.
- Enter the amount of the deposit in the 'Deposit' section. This deposit is intended to ensure the Tenant's obligations are met and must be addressed according to the stipulations regarding refunds.
- Outline the utility responsibilities in the 'Utilities' section, indicating what the Tenant will cover and what the Landlord will be responsible for.
- Specify permitted uses for the property in the 'Use of Property' section, confirming that it will be used solely for residential purposes.
- In the 'PETS' section, state any pet policies relevant to the lease.
- Indicate if any alterations to the property will be allowed in the 'Alterations' section, emphasizing the need for prior written consent from the Landlord.
- Enter special provisions, if applicable, in the designated section.
- Ensure compliance with laws in the 'Laws' section by listing relevant regulations the Tenant must adhere to.
- Specify repair responsibilities in the 'Repairs and Maintenance' section, clarifying the Tenant's obligations during the lease period.
- Address indemnity clauses for claims made by third parties in the 'Indemnity' section.
- In the 'Insurance' section, confirm the necessity for both parties to maintain appropriate insurance during the lease.
- Define default conditions and consequences in the 'Default' section.
- Explain the lease termination procedures in the 'Termination' section.
- Lay out requirements for possession after lease termination in the 'Holding Over' section.
- Clarify the process for recovering attorney's fees in legal proceedings as described in the 'Attorney's Fees' section.
- Address smoke alarm responsibilities as specified in the 'Smoke Alarms' section.
- Review security device regulations applicable to short-term leases in the 'Security Devices' section.
- Provide the appropriate contact information for notices addressed in the 'Notices' section, ensuring all parties are accurately represented.
- Once all sections are completed, save changes to your document, and proceed to download, print, or share as needed.
Start filling out the TREC 15-5 form online today to ensure a smooth transition in your real estate transaction.
In Texas, you can conduct a leaseback for varying lengths of time, but it usually depends on the agreement between both parties. Leasebacks can last from a few days to several months, and it's essential to document this duration within the lease. Understanding the specifics of TREC 15-5 can provide guidance on your agreement terms. For those looking for comprehensive templates, US Legal Forms offers a range of leaseback forms to simplify the process.
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