Termination of Real Estate Purchase Agreement
This template is designed for use in the state of [Insert State Name] and complies with relevant state laws. It serves as a formal notice to terminate a Real Estate Purchase Agreement.
By this document, the undersigned parties hereby notify each other of the termination of the Real Estate Purchase Agreement dated [Insert Date of Agreement], regarding the property located at [Insert Property Address].
The grounds for this termination include the following:
- [Insert Ground for Termination 1]
- [Insert Ground for Termination 2]
- [Insert Ground for Termination 3]
Both parties acknowledge and agree to the following terms in connection with this termination:
- All earnest money held shall be handled as follows: [Specify Terms for Earnest Money].
- Any inspections or evaluations conducted are concluded, and no further obligations remain.
- Neither party holds any liability towards the other for claims related to the terminated agreement.
This notice of termination is effective immediately upon delivery. Each party must sign below to acknowledge this termination:
Seller:
__________________________________
Name: [Insert Seller's Name]
Date: [Insert Date]
Buyer:
__________________________________
Name: [Insert Buyer's Name]
Date: [Insert Date]
Witness:
__________________________________
Name: [Insert Witness's Name]
Date: [Insert Date]
For any questions or further assistance, please consult a legal professional familiar with real estate transactions in [Insert State Name].