The Standard Forms Committee Has Updated Two Forms in Its June 2021 Release:
1) Termination of Contract
2) General Information for Buyers and Sellers (Disclosures and Disclaimers Advisory)
Termination of Contract
- Form name changed from Termination of Agreement and Release of Deposit to Termination of Contract
- New advisory added as the first page. Any client (Buyer or Seller) who may be considering terminating a contract should consult with a qualified real estate attorney prior to acting.
- Restructured into 3 sections
- Reasons for Terminating (Other than Mutual Consent)
- Termination by Mutual Agreement
- Cancellation of Escrow Instructions and Release of Deposit
General Information for Buyers and Sellers (Disclosures and Disclaimers Advisory)
The following sections have been updated:
- CRIME (Section 14)
- RENT and EVICTION CONTROL ORDINANCE (Section 27)
- APARTMENT LICENSE FEES AND RENT ORDINANCE FEES (Section 29)
- All URL links were updated throughout the document.
You can read a more detailed list of the changes and see the new versions in this UPDATED PDF here.
These revised forms are now live!