Environmental Clauses: Contract for Real Property

• Category: Contracts - Clauses
• State: Multi-State
• Control #: US-C-CL-665-1
• Format: Word; Rich Text

Description

A clause dictates the conditions under which the contract is legally enforceable and determines the terms of the contract. Contracts often contain boilerplate clauses or standard clauses found across most contracts. These standard clauses do not require a lot of negotiation. Included is a Sample Environmental Clauses for a Contract for Real Property. Buyer shall be entitled at its option and at its sole expense to conduct an environmental investigation of the Premises for the purposes of verifying the absence of hazardous waste on the Premises at levels above those allowed under applicable state and Federal law. Environmental Clauses: Contract for Real Property are provisions in a real estate contract that stipulate the responsibilities of the buyer and seller in regard to environmental matters. These clauses provide protections for the buyer, seller, and lender in the event of an environmental issue. There are three main types of environmental clauses: Indemnity, Contingent Liability, and Mutual Release. Indemnity clauses require the seller to provide compensation to the buyer in the event of environmental damages. This clause also requires the seller to maintain a certain level of environmental compliance during the sale process. Contingent Liability clauses provide protection for the buyer and lender in the event of an environmental concern. These clauses determine who is responsible for any costs associated with remediation or clean-up of the property. Mutual Release clauses allow both parties to mutually release each other of any claims related to environmental matters. This clause is often used when both parties agree to hold one another harmless from any environmental concerns. Environmental Clauses: Contract for Real Property are important for protecting the interests of buyers, sellers, and lenders in a real estate transaction. These clauses provide assurances that any environmental issues will be addressed in a timely and cost-effective manner.

Environmental Clauses: Contract for Real Property are provisions in a real estate contract that stipulate the responsibilities of the buyer and seller in regard to environmental matters. These clauses provide protections for the buyer, seller, and lender in the event of an environmental issue. There are three main types of environmental clauses: Indemnity, Contingent Liability, and Mutual Release. Indemnity clauses require the seller to provide compensation to the buyer in the event of environmental damages. This clause also requires the seller to maintain a certain level of environmental compliance during the sale process. Contingent Liability clauses provide protection for the buyer and lender in the event of an environmental concern. These clauses determine who is responsible for any costs associated with remediation or clean-up of the property. Mutual Release clauses allow both parties to mutually release each other of any claims related to environmental matters. This clause is often used when both parties agree to hold one another harmless from any environmental concerns. Environmental Clauses: Contract for Real Property are important for protecting the interests of buyers, sellers, and lenders in a real estate transaction. These clauses provide assurances that any environmental issues will be addressed in a timely and cost-effective manner.