Authorization to Contract Clauses: Contract for Real Property

• Category: Contracts - Clauses
• State: Multi-State
• Control #: US-C-CL-720-1
• Format: Word; Rich Text

Description

A clause dictates the conditions under which the contract is legally enforceable and determines the terms of the contract. Contracts often contain boilerplate clauses or standard clauses found across most contracts. These standard clauses do not require a lot of negotiation. Included is a Sample Authorization to Contract Clauses for a Contract for Real Property. This clause may be needed to express authorization by a company, its directors, or others. Authorization to Contract Clauses: Contract for Real Property is a legal document used to authorize one party to enter into a contract or agreement to purchase real estate on behalf of another party. The contract typically includes the terms and conditions of the purchase, such as the purchase price, closing date, and any contingencies, as well as the legal rights and responsibilities of both parties. The most common types of Authorization to Contract Clauses: Contract for Real Property are the Special Warranty Deed, General Warranty Deed, Quitclaim Deed, and Lease with Option to Purchase. The Special Warranty Deed provides the buyer with a warranty from the seller that the property is free from any liens or encumbrances that were created by the seller, or their predecessors, during their ownership of the property. The General Warranty Deed provides a more comprehensive warranty to the buyer, including not only liens or encumbrances created by the seller, but also any that were created by the seller’s predecessors. The Quitclaim Deed is a deed that conveys whatever interest the granter has in the real estate, without making any warranties about the property. The Lease with Option to Purchase grants the tenant the right to purchase the property at a predetermined price and date.

Authorization to Contract Clauses: Contract for Real Property is a legal document used to authorize one party to enter into a contract or agreement to purchase real estate on behalf of another party. The contract typically includes the terms and conditions of the purchase, such as the purchase price, closing date, and any contingencies, as well as the legal rights and responsibilities of both parties. The most common types of Authorization to Contract Clauses: Contract for Real Property are the Special Warranty Deed, General Warranty Deed, Quitclaim Deed, and Lease with Option to Purchase. The Special Warranty Deed provides the buyer with a warranty from the seller that the property is free from any liens or encumbrances that were created by the seller, or their predecessors, during their ownership of the property. The General Warranty Deed provides a more comprehensive warranty to the buyer, including not only liens or encumbrances created by the seller, but also any that were created by the seller’s predecessors. The Quitclaim Deed is a deed that conveys whatever interest the granter has in the real estate, without making any warranties about the property. The Lease with Option to Purchase grants the tenant the right to purchase the property at a predetermined price and date.