This form is a contract for a lease and a manadatory purchase of real estate. Seller demises and leases to purchaser and purchaser takes and rents from seller certain real property described in the form. Purchaser agrees not to use or permit the use of the property for an illegal purpose. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the seller.
Real Estate Contract Clauses Examples In Tarrant
State:
Multi-State
County:
Tarrant
Control #:
US-00120
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
An example standard clause for specifying the jurisdiction which the parties agree disputes will be heard is: The parties submit to the non-exclusive/exclusive jurisdiction of the courts of and any courts that may hear appeals from those courts in respect of any proceedings in connection with this contract.
Example: Fixed Term The Agreement shall commence on date | the date of this Agreement, and continue for a period of 2 years and thereafter terminate. We run through some examples of contingent commencement of contracts and termination of contracts in the context of conditions precedent.
1 Use plain language. 2 Define key terms. 3 Structure your clauses logically. 4 Be specific and precise. 5 Use examples and scenarios. 6 Review and revise your clauses. 7 Here's what else to consider.
Sample wording: “Neither party may assign this agreement or any rights or obligations herein without the prior written consent of the other party.” Cancellation clauses: These allow either party to terminate the contract under specific conditions, often requiring advance notice.
The Five Elements of a Contract Offer. Acceptance. Consideration. Capacity. Lawful Purpose.
Example1: “The Buyer acknowledges that the property is being sold 'as is' with all faults and defects, whether known or unknown, presently existing or that may hereafter arise. The Seller makes no warranties or representations of any kind regarding the condition of the property.”
To write effective and enforceable business contracts, you need to include a number of contract clauses. These include indemnification, force majeure, copyright, termination, warranties and disclaimers, and privacy.
These include indemnification, force majeure, copyright, termination, warranties and disclaimers, and privacy. Without including these important clauses in your business contracts, you may find yourself facing exorbitant legal fees, legal battles that could last for years, and intellectual property theft.
As public records, contract forms adopted by the Texas Real Estate Commission are available to any person. Real estate license holders are required to use these forms. However, TREC contract forms are intended for use primarily by licensed real estate brokers or sales agents who are trained in their correct use.