What is an as-is condition clause?

"As is" language in a realty sales contract does not shield a seller or his agent from liability for affirmative or, as in this case, negative fraud. "Generally speaking, such a provision means that the buyer takes the property in the condition visible to or observable by him.

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Contract or Agreement to Make Exchange or Barter of Real Property for...

Broward Florida Contract or Agreement to Make Exchange or Barter of Real Property for Personal Property

Name: Broward Florida Contract or Agreement to Make Exchange or Barter of Real Property for Personal Property
Brand: US Legal Forms
Rating: 4.56 (466 reviews)

Category:

Contracts - Personal Property

State:

Multi-State

County:

Broward

Control #:

US-01330BG

Format:

Instant download

Description

Bartering are agreements for the exchange of personal and real property are subject to the general rules of law applicable to contracts, and particularly to the rules applicable to sales of personal and real property. A binding exchange agreement is formed if an offer to make an exchange is unconditionally accepted before the offer has been revoked. Federal tax aspects of exchanges of personal property should be considered carefully in the preparation of an exchange agreement.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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How to fill out Broward Florida Contract Or Agreement To Make Exchange Or Barter Of Real Property For Personal Property?

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FAQ

The AS IS Contract simply places no repair obligations on the seller, while the Standard Contract has default terms requiring that the seller make certain types of repairs up to a certain dollar amount.

Many parties forget to fail to record an agreement. It is actually required under Florida Law. A seller can sell a property if a buyer fails to record the agreement. This means the title of the property will transfer to another person.

"As is" language in a realty sales contract does not shield a seller or his agent from liability for affirmative or, as in this case, negative fraud. "Generally speaking, such a provision means that the buyer takes the property in the condition visible to or observable by him.

In a contract for deed sale, the buyer agrees to pay the purchase price of the property in monthly installments. The buyer immediately takes possession of the property, often paying little or nothing down, while the seller retains the legal title to the property until the contract is fulfilled.

Florida Realtors has three residential contracts. Two are Florida Realtors/Florida Bar contracts(FR/Bar), the standard Residential Contract for Sale and Purchase and the AS IS version, and one is the Florida Realtors Contract for Residential Sale and Purchase (CRSP).

AS IS contract is a warranty disclaimer. Property is sold as is in order to limit any liability relating to the condition of the property. FAR or the BAR approved contracts is what most South Florida real estate agent use.

In Florida, real estate sold 'as is' means it's sold in the current condition. If the buyer inspects the property and notices a huge problem or the seller informs them of a potential problem, then the seller need not worry. The seller will not need to make repairs, regardless of their severity.

Under the Standard Contract, the seller has repair requirements that are set-forth in Section 9 of the Contract, while under the As-Is Contract, the seller is only responsible for maintaining the property in the same condition that it was in as of the effective date of the Contract.

Interesting Questions

A Broward contract or agreement for this purpose should include detailed descriptions of the real property and personal property involved in the exchange or barter. Additionally, it should outline the terms and conditions of the agreement, including warranties, obligations, and any agreed-upon considerations. Both parties should ensure the contract is legally enforceable and seek legal advice if necessary.

Yes, there may be legal restrictions or regulations to consider when engaging in such exchanges or barters. These may include zoning regulations, tax implications, or specific rules related to real estate transactions. It is important to consult with legal professionals, real estate agents, or relevant authorities to ensure compliance with all applicable laws and regulations.

Yes, a Broward contract can be modified or canceled, but it generally requires the mutual agreement of all parties involved. If any changes or cancellations occur, it is essential to document them in writing and have all parties sign the updated or canceled agreement. Legal advice should be sought to ensure that modifications or cancellations are done correctly and in accordance with the law.

More info

Buyer and Seller are closing on the sale and purchase of Property A on May 1, 2020. Both properties must be held for use in a trade or business or for investment.Get to know us: Jason Ponder, Esq. Sealed Proposals, addressed to the Purchasing and Contracts Manager of the City of Tamarac, Broward County,. Company, LLC for Sale of Former City Hall Property and Service Drive. NonUS investors often structure their investment to minimise the impact of the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). Real and Personal Property (Chapters 689-724). Florida vendors for the purchase of personal property. Application of the Sunshine Law to specific private entities . Declared a Public Health Emergency exists in the State of Florida as a result of COVID19; and.

Broward Florida Contract or Agreement to Make Exchange or Barter of Real Property for Personal Property

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How to fill out Broward Florida Contract Or Agreement To Make Exchange Or Barter Of Real Property For Personal Property?

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FAQ

What is the difference between as is or regular contract?

Does Florida law require a contract for deed to be recorded?

What is an as-is condition clause?

How does a sale by contract for deed differ from a normal real estate sale What does the contract for deed accomplish?

Is there a standard real estate contract in Florida?

What is the difference between AS IS and Far Bar?

What is a Florida as is real estate contract?

What does an as is real estate contract mean in Florida?

Are all Florida real estate contracts as-is?

What is the major difference between a Florida residential contract for purchase and sale of real estate and an as is residential contract for purchase and sale of real estate?

Interesting Questions

What is the purpose of a Broward contract or agreement to make an exchange or barter of real property for personal property?

Why would someone consider exchanging or bartering real property for personal property?

What should be included in a Broward contract or agreement for exchanging or bartering real and personal property?

How does a Broward contract protect the parties involved in an exchange or barter?

Are there any legal restrictions or regulations to consider when making an exchange or barter of real property for personal property in Broward?

Can a Broward contract for exchanging real and personal property be modified or canceled?

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