Puerto Rico Addendum to Contract for Sale and Purchase of Real Property

State:
Multi-State
Control #:
US-03209BG
Format:
Word; 
Rich Text
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Description

An addendum is a thing to be added; an addition. For example, it may be used to add supplemental terms or conditions to a contract or make corrections or supply omissions to a document. An addendum is often used to supply additional terms to standardized contracts, such as leases. Addendum is singular; the plural form is addenda.

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FAQ

A sales and purchase agreement (SPA) is a binding legal contract between two parties that obligates a transaction to occur between a buyer and seller. SPAs are typically used for real estate transactions, but they are found in other areas of business.

An addendum or appendix, in general, is an addition required to be made to a document by its author subsequent to its printing or publication. It comes from the gerundive addendum, plural addenda, "that which is to be added," from addere ( lit. ''give toward'', compare with memorandum, agenda, corrigenda).

An addendum is an attachment to a contract that modifies the terms and conditions of the original contract. Addendums are used to efficiently update the terms or conditions of many types of contracts.

Common addendums include contingencies such as home inspections or the sale of the buyer's house, as well as including certain items, like furniture.

An addendum is an additional document that gets added to the purchase and sale agreement. The document will include any additional information or requests that the buyer did not put into the original purchase and sale agreement.

In real estate, a contract addendum is an attachment to the original agreement that details additional terms that were not outlined in the original contract. These terms typically include things like contingencies, financing details, and disclosures about the state of the home.

An addendum is used to clarify and add things that were not initially part of the original contract or agreement. Think of addendums as additions to the original agreement (for example, adding a deadline where none existed in the original version).

The addendum should detail all the terms different from the original purchase agreement: changes, alterations, deletions, and additions the document is making to the original contract. Furthermore, the addendum should reference the specific section or provision number in the contract affected by the change.

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Puerto Rico Addendum to Contract for Sale and Purchase of Real Property