The Contract Service Agreement (where the Seller Continues to Operate Properties Sold to Buyer) form, is a contract form between a seller and buyer concerning the provision by the seller of certain operating, accounting and administrative services in connection with the oil and gas producing properties sold to the buyer pursuant to a purchase and sale agreement.
A Bexar Texas Contract Service Agreement, when the seller continues to operate properties sold to the buyer, is a legal document that outlines the terms and conditions between the seller and the buyer in a real estate transaction where the seller retains operational control of the properties even after the sale. This agreement is commonly used when the seller wishes to maintain control over the management and operation of the sold properties, while the buyer becomes the legal owner. There are different types of Bexar Texas Contract Service Agreement when the seller continues to operate properties sold to the buyer. Some common types include: 1. Property Management Agreement: This type of agreement specifies the roles and responsibilities of both the seller and the buyer regarding the management of the property. It outlines the services to be provided by the seller as the ongoing property manager, such as collecting rent, handling maintenance issues, and tenant relations. 2. Leaseback Agreement: In a leaseback agreement, the seller becomes a tenant on the property they sold to the buyer. The agreement establishes the terms and conditions of the lease, including rent, lease duration, and any additional provisions or restrictions. 3. Service Agreement: This type of agreement outlines the specific services to be provided by the seller to the buyer, such as maintenance, utilities, or any other operational aspects. It defines the scope of work, service fees, and duration of the agreement. 4. Shared Revenue Agreement: In this agreement, the buyer and the seller agree to share the revenue generated from the property, even after the sale. The agreement establishes a formula for revenue sharing and outlines the terms and conditions related to the ongoing operation and financial aspects. 5. Operating Agreement: An operating agreement is typically used in cases where the seller and buyer from a partnership or joint venture to co-own and operate the sold properties. It specifies the responsibilities, rights, and obligations of each party involved and covers aspects such as decision-making, profit sharing, and management control. These are some different types of Bexar Texas Contract Service Agreements when the seller continues to operate properties sold to the buyer. Each type serves a different purpose and addresses specific concerns and requirements of the seller and buyer in such arrangements.A Bexar Texas Contract Service Agreement, when the seller continues to operate properties sold to the buyer, is a legal document that outlines the terms and conditions between the seller and the buyer in a real estate transaction where the seller retains operational control of the properties even after the sale. This agreement is commonly used when the seller wishes to maintain control over the management and operation of the sold properties, while the buyer becomes the legal owner. There are different types of Bexar Texas Contract Service Agreement when the seller continues to operate properties sold to the buyer. Some common types include: 1. Property Management Agreement: This type of agreement specifies the roles and responsibilities of both the seller and the buyer regarding the management of the property. It outlines the services to be provided by the seller as the ongoing property manager, such as collecting rent, handling maintenance issues, and tenant relations. 2. Leaseback Agreement: In a leaseback agreement, the seller becomes a tenant on the property they sold to the buyer. The agreement establishes the terms and conditions of the lease, including rent, lease duration, and any additional provisions or restrictions. 3. Service Agreement: This type of agreement outlines the specific services to be provided by the seller to the buyer, such as maintenance, utilities, or any other operational aspects. It defines the scope of work, service fees, and duration of the agreement. 4. Shared Revenue Agreement: In this agreement, the buyer and the seller agree to share the revenue generated from the property, even after the sale. The agreement establishes a formula for revenue sharing and outlines the terms and conditions related to the ongoing operation and financial aspects. 5. Operating Agreement: An operating agreement is typically used in cases where the seller and buyer from a partnership or joint venture to co-own and operate the sold properties. It specifies the responsibilities, rights, and obligations of each party involved and covers aspects such as decision-making, profit sharing, and management control. These are some different types of Bexar Texas Contract Service Agreements when the seller continues to operate properties sold to the buyer. Each type serves a different purpose and addresses specific concerns and requirements of the seller and buyer in such arrangements.
