CLOSING – DISCLOSURE – CONDITIONAL RELEASE

Make a conditional release agreement prior to selling the property to a buyer

Would you like to prepare a Closing – Disclosure – Conditional Release agreement? Then you either have to hire a professional and experienced lawyer or download the professional format of this agreement from online. Generally, downloading this form from online would help you to save money and prepare the agreement right at your home. This is the agreement prepared between the buyer and seller, when the seller agrees to sell his/her property. Ideally, this Closing – Disclosure – Conditional Release agreement states that you are voluntarily agreeing to sell your property to the respective buyer. This agreement should include all the terms and conditions to elude the conflicts between the buyer and seller regarding amount, date, etc. In this agreement, the amount that the buyer would like to pay to the seller has to be included clearly.

Moreover, along with this agreement, you should also prepare a promissory note that includes the amount of the property and the amount being paid to the seller and remaining amount to be paid. Both the seller and buyer has to go through all the terms and understand them clearly before signing the agreement. Ideally, this agreement would stand as a proof for both buyers and sellers in case of any conflicts in the near future. Moreover, breach of this agreement by any of the parties, will give rights to the other party to file a lawsuit against them. However, in case, if the seller fails to comply with the terms, then the seller has to pay the amount the buyer has invested from the beginning of the deal along with losses. This agreement has to be signed by both parties, including the witness.

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AFFIDAVIT  AND  ACKNOWLEDGEMENT  OF  DEBT
AND  CONDITIONAL  RELEASE  OF  LIABILITY

STATE  OF ___________________________

COUNTY  OF ___________________________

BEFORE ME, the undersigned authority, on this day personally appeared              ___________________________ who being first duly sworn, depose and say that:

According to an agreement dated _____________________ (hereinafter “Agreement”),                                      Affiants (hereinafter “Seller”) have voluntarily agreed to sell property located at                                                    ___________________________ to ___________________________ (hereinafter “Buyer”).

According to Agreement, Seller has agreed to pay to Buyer a sum equal to $___________________ according to a properly executed Promissory Note (hereinafter “Note”) of even date with this document.

Seller understands that Seller must comply with every particular of Note.

In the event that Seller fails to comply with any single term of the Note, whether or not said term is cured, Seller shall thenceforth forevermore grant to Buyer (and to Buyer’s heirs, executors, administrators and assigns) a permanent and complete release from all liability, claims, causes of action or losses with regard to any and all agreements between the parties from the beginning of time to this date, including but not limited to the following covenants:

<< NAME AND DATE OF ALL DOCUMENTS YOU HAVE SIGNED WITH SELLER  >>

Buyer’s continued compliance with the Agreement subsequent to Seller’s breach of the Note shall not be deemed as waiver of the release offered herein.

Affiants/Seller expressly agree that this instrument may be treated as a defense to any action or proceeding that may be brought, instituted, or taken by Affiants/Seller or in their behalf, and shall for ever be a complete bar to the commencement or prosecution of any action or proceeding whatever against the Buyer and/or assigns, any future purchasers, mortgagees, title insurance companies, any heir, legal representative, assignee or any other person, entity or firm claiming by or through them.

FURTHER AFFIANTS SAYETH NOT.

_______________________________________________________________(Seal)
Affiant

_______________________________________________________________(Seal)
Affiant

Sworn to and described before me this ______ day of _______________, 20____.

____________________________________    _____________________________________
Witness                                                                  NotaryPublic

(Seal)