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

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

Description

The Termination of Listing Agreement form facilitates the mutual agreement between a real estate broker and seller to terminate an existing listing agreement. This process is critical in Ohio, particularly regarding whether listing agreements may be terminated without penalty for non-payment. The key features of this form include the identification of parties involved, the date of termination, the waiver of claims by the broker against the seller for payment obligations, and the release of the broker from further service requirements. It outlines any expenses incurred by the broker, such as advertisement costs, that must be reimbursed by the seller. Filling out the form requires inserting the broker's and seller's names, addresses, the original listing agreement date, and specifying any outstanding expenses. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it clarifies the legal responsibilities of each party and can help avoid future disputes. Users can easily navigate the process of terminating an agreement with this straightforward document, ensuring compliance and reducing potential liabilities.