Terminate Contract With Attorney In Virginia

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

Description

The Termination of Listing Agreement is a legal document in Virginia designed for parties wishing to dissolve an existing listing agreement between a real estate broker and a seller. This form outlines the mutual termination effective as of a specified date, confirming that both the broker and seller release each other from ongoing obligations under the agreement, except for reimbursement of agreed-upon expenses such as marketing costs. Users must fill in the respective names, addresses, and dates to complete the form accurately. It serves a critical function for real estate attorneys, brokers, and sellers, ensuring clarity on the cessation of contractual duties, allowing for a clean break when circumstances change. This form also protects both parties by waiving any future claims related to the terminated agreement, which may be pivotal during disputes. Legal professionals, including paralegals and assistants, benefit from understanding this form to assist clients with proper document management and compliance. Overall, it's a straightforward but essential tool for maintaining legal and professional relationships in real estate transactions.