May Listing Agreements Be Terminated Without Penalty For Non Payment In King

• Category: Real Estate - Contracts - Agents
• State: Multi-State
• County: King
• Control #: US-00048DR
• Format: Word; Rich Text

Description

The Termination of Listing Agreement form serves to officially terminate a prior listing agreement between a real estate broker and a seller. This form outlines the mutual agreement for termination, stating that the broker waives any claim for further payments from the seller due to non-payment, thus allowing for termination without penalty. Key features include spaces for the date of the original listing agreement, the termination date, and reimbursement for expenses incurred by the broker. Users should fill in all required information, ensuring that dates and amounts are accurate to avoid disputes. The document is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants who may be involved in real estate transactions, providing clarity on the consequences of contract termination. It supports users by ensuring compliance with legal standards while simplifying the process of terminating agreements. This form may be used in situations where a seller is unable or unwilling to continue the agreement, thereby relieving them of potential financial penalties related to non-payment.