It’s imperative that REALTORS® understand how to act with integrity towards all parties in the case of a failed agreement. OREA’s latest tutorial walks members through a standard Mutual Release form, ensuring that you will understand the Mutual Release form content in the event a deal falls through and the agreement parties wish to release each other.
The Mutual Release Form establishes a release between all parties to an agreement from liabilities, obligations or claims against each other which may have arisen out of the Agreement. The release form also provides the deposit holder direction for releasing a consumer’s agreement deposit funds.
The Form #122 Tutorial breaks down the process, providing plain language wording to help members execute the process in the interests of all concerned. Members can access the tutorial by logging into OREA’s Standard Forms Video Library.
Each month OREA updates its Forms Video Library with a new webinar and/or tutorial. Be sure to check back frequently to stay informed about current professional standards and obligations in the industry.