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 Clause In A Will In Travis
State:
Multi-State
County:
Travis
Control #:
US-00120
Format:
Word;
Rich Text
Instant download
Description
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FAQ
“The Seller is selling the Property in “As-Is” condition, with all faults. The Buyer acknowledges and accepts that Buyer is purchasing the Property in its current condition and without any representations, guarantees, or warranties from Seller, either expressed or implied, as to suitability or condition.”
Xx accepts the Property “As-Is” as of the date of the execution of this Agreement, without any warranties or representations from Seller regarding the use, condition or habitability of the Property.
For example, a survivorship clause might state "A beneficiary must survive me by 30 days to receive any bequest under this will. If a beneficiary does not survive me by 30 days, their share shall pass as if they predeceased me."
Condition: Clearly state that the item is being sold in its current condition, "as-is," without any warranties or guarantees of any kind. Use explicit language to emphasize that the buyer is accepting the item with all faults and defects.
Many sellers have valid reasons for selling “as is.” For example, the seller may have recently inherited the house, never lived in it and is unaware of any problems or the home's repair history.
Creating a codicil to a Will is as simple as putting your updated wishes in writing. Do so by first reading through your current Will and making note of the changes you want made or the mistakes you want fixed.
Examples of Residuary Clause Wording “I give, devise, and bequeath all the rest, residue, and remainder of my estate, real and personal, of whatever nature and wherever situated, to Name of Beneficiary, if they survive me.
Rule of thumb: the contingency clauses must comply with actual laws and regulations, have clear and specific terms, be reasonable, agreed upon mutually, and in good faith of all the involved parties, as well as shouldn't ever promote unethical behavior.
What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.
You have two options: (1) sign and record a revocation or (2) record another TOD deed, leaving the property to someone else. You cannot use your will to revoke or override a TOD deed.