CLOSING – DISCLOSURE — CONDITIONAL RELEASE-option

Prepare a conditional release form by reading the terms carefully to avoid conflicts

Want to prepare a closing – disclosure – conditional release form? Then you have to either hire a lawyer to prepare this form by including all the clauses without giving a miss or search for a professional form in online and fill in the details. However, the latter option would be perfect, since you do not need to shell out money for the lawyers to get the form prepared. This agreement has to be read thoroughly by the buyer and seller and make a mutual agreement to avert conflicts in the near future. Generally, this closing – disclosure – conditional release agreement is made by the seller to voluntarily agree that they are ready to sell their property to the potential buyer along with the date. In addition, this agreement also includes the rate at which seller is ready to sell their property to the buyer clearly. This agreement includes the amount that was mentioned in the promissory note clearly. In case, if they have any further problems in the future pertained to the property price, then this agreement stands as a concrete proof.

It is vital to read the terms carefully without getting overexciting and before penning your sign on the agreement. However, if the seller fails to abide to the terms and conditions or violates the terms mentioned in the agreement, then the buyer has all rights to get the compensation for the amount that he/she has spent from the beginning for this deal. In fact, the same applies to the buyer too. If the buyer breaches the terms and conditions mentioned in the contract, then he/she has to repay the expenses for the seller from the start of the deal.

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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                        Notary Public

(Seal)