District of Columbia Subsequent Transfer Agreement

• Category: Corporations - Public - Agreements - Transfers
• State: Multi-State
• Control #: US-EG-9061
• Format: Word; Rich Text

Description

Subsequent Transfer Agr. btwn ABFS 1999-4, American Bus. Credit, Homeamerican Credit, Inc. d/b/a Upland Mortgage, et al. dated Dec. 1, 1999. 5 pages The District of Columbia Subsequent Transfer Agreement (DATA) is a legal document that outlines the conditions and terms of transferring ownership of real property in the District of Columbia. This agreement is crucial for individuals and entities involved in real estate transactions, as it ensures a smooth and legally compliant transfer of property rights. The DATA serves as a binding contract between the current property owner (transferor) and the buyer or recipient (transferee). It stipulates the rights and responsibilities of both parties during and after the transfer process, protecting their interests in the transaction. Key provisions covered in a District of Columbia Subsequent Transfer Agreement may include: 1. Identification of the Parties: The agreement clearly identifies the transferor and transferee, stating their legal names, addresses, and contact information. 2. Property Description: The DATA provides an accurate and detailed description of the property being transferred, including its address, legal description, and any relevant unique identifiers like tax map or parcel numbers. 3. Purchase Price and Consideration: This section specifies the agreed-upon purchase price and outlines the terms of payment, including any down payments, financing, or conditions related to the consideration exchanged. 4. Title Representations and Warranties: The transferor represents that they have clear and marketable title to the property, without any liens, encumbrances, or adverse claims. This provision assures the transferee that the property will be transferred free from any legal issues affecting ownership. 5. Closing and Delivery: The agreement specifies the closing date and location, as well as the procedures for the delivery of the deed, associated documents, and any necessary adjustments to the purchase price. Besides the general District of Columbia Subsequent Transfer Agreement, it's worth mentioning two different types of DATA that are commonly encountered: 1. Residential Subsequent Transfer Agreement: This is a specialized version of the agreement designed specifically for the transfer of residential properties, such as houses, apartments, or condominium units. It may include additional provisions related to the condition of the property, inspections, disclosures, and potential contingencies based on appraisal or financing. 2. Commercial Subsequent Transfer Agreement: This variation of the DATA caters to the transfer of commercial properties, including office buildings, retail spaces, or industrial facilities. In addition to the standard provisions found in the general agreement, it may address factors such as zoning restrictions, lease agreements with existing tenants, financial statements, and environmental considerations. In summary, the District of Columbia Subsequent Transfer Agreement plays a crucial role in facilitating the transfer of property ownership in the District of Columbia. Whether it is a residential or commercial property, this legally binding document assures both the transferor and transferee that the transaction will be conducted smoothly, safeguarding their rights and minimizing any potential disputes that could arise during or after the transfer.

The District of Columbia Subsequent Transfer Agreement (DATA) is a legal document that outlines the conditions and terms of transferring ownership of real property in the District of Columbia. This agreement is crucial for individuals and entities involved in real estate transactions, as it ensures a smooth and legally compliant transfer of property rights. The DATA serves as a binding contract between the current property owner (transferor) and the buyer or recipient (transferee). It stipulates the rights and responsibilities of both parties during and after the transfer process, protecting their interests in the transaction. Key provisions covered in a District of Columbia Subsequent Transfer Agreement may include: 1. Identification of the Parties: The agreement clearly identifies the transferor and transferee, stating their legal names, addresses, and contact information. 2. Property Description: The DATA provides an accurate and detailed description of the property being transferred, including its address, legal description, and any relevant unique identifiers like tax map or parcel numbers. 3. Purchase Price and Consideration: This section specifies the agreed-upon purchase price and outlines the terms of payment, including any down payments, financing, or conditions related to the consideration exchanged. 4. Title Representations and Warranties: The transferor represents that they have clear and marketable title to the property, without any liens, encumbrances, or adverse claims. This provision assures the transferee that the property will be transferred free from any legal issues affecting ownership. 5. Closing and Delivery: The agreement specifies the closing date and location, as well as the procedures for the delivery of the deed, associated documents, and any necessary adjustments to the purchase price. Besides the general District of Columbia Subsequent Transfer Agreement, it's worth mentioning two different types of DATA that are commonly encountered: 1. Residential Subsequent Transfer Agreement: This is a specialized version of the agreement designed specifically for the transfer of residential properties, such as houses, apartments, or condominium units. It may include additional provisions related to the condition of the property, inspections, disclosures, and potential contingencies based on appraisal or financing. 2. Commercial Subsequent Transfer Agreement: This variation of the DATA caters to the transfer of commercial properties, including office buildings, retail spaces, or industrial facilities. In addition to the standard provisions found in the general agreement, it may address factors such as zoning restrictions, lease agreements with existing tenants, financial statements, and environmental considerations. In summary, the District of Columbia Subsequent Transfer Agreement plays a crucial role in facilitating the transfer of property ownership in the District of Columbia. Whether it is a residential or commercial property, this legally binding document assures both the transferor and transferee that the transaction will be conducted smoothly, safeguarding their rights and minimizing any potential disputes that could arise during or after the transfer.