Real Estate Transfer Policy

REAL ESTATE TRANSFER POLICY

Purpose and Scope

This Real Estate Transfer Policy sets forth the administrative requirements, documentation, approvals, fees and legal obligations applicable to the voluntary conveyance, sale, assignment or transfer of any interest in the identified real property. The policy governs Transferor and Transferee responsibilities, escrow and closing procedures, required disclosures, allocation of taxes and fees, and remedies for noncompliance.

Property Identification

Parties

Transferor Name:   Transferor Contact Address:

Transferor Phone:   Transferor Email:

Transferee Name:   Transferee Contact Address:

Transferee Phone:   Transferee Email:

Financial and Closing Terms

Closing Date:   Possession Date:

Escrow Agent / Closing Office:

Required Documents and Conditions Precedent

The following documents are required to be delivered to escrow no later than five (5) business days prior to Closing:

  Executed deed conveying fee simple title
  Owner's title insurance commitment
  Current boundary survey (if applicable)
  Fully executed closing statement / HUD-1 or closing disclosure
  Evidence of payment or proration of property taxes and assessments
  Association resale certificate / transfer certificate (if subject to HOA)

Inspections and Disclosures

Transferor must disclose known material conditions affecting the property. For each item, indicate whether a disclosure has been provided.

Lead-Based Paint Disclosure: Yes    No

Mold / Water Intrusion Disclosure: Yes    No

Prior Structural or Fire Damage: Yes    No

Liens, Encumbrances and Title

Transferor shall deliver title free and clear of all liens and encumbrances except those described in the closing documents and permitted by the parties. Transferor warrants, to the best of Transferor's knowledge, that there are no unrecorded instruments, judgments, or claims affecting title other than as disclosed in writing to Transferee.

Allocation of Taxes, Fees and Prorations

Property taxes, assessments, transfer taxes and HOA fees will be apportioned as of the Closing Date. Transfer tax and recording fees shall be the responsibility of:

Default, Remedies and Indemnity

Failure by either party to comply with this Policy constitutes a default. In the event of default, the non-defaulting party may seek specific performance, termination, damages and recovery of costs and reasonable attorneys' fees. Transferor and Transferee shall indemnify and hold each other harmless from liabilities arising from their respective breaches, negligent acts, or omissions related to the transfer, except to the extent caused by the other party.

Records, Notices and Timing

All notices required by this Policy must be in writing and delivered to the addresses provided above. Transfer documentation must be submitted sufficiently in advance of Closing to permit review and processing; the Administrator's approval or objections, if any, will be provided in writing prior to Closing.

Governing Law; Severability; Entire Agreement

This Policy shall be governed by and construed in accordance with the laws of the state of . If any provision of this Policy is held invalid, the remainder shall remain in full force. This Policy constitutes the entire transfer policy between the parties with respect to the subject matter and supersedes prior written or oral statements.

Amendment and Effective Date

This Policy may be amended only by a written instrument signed by Transferor and Transferee. Effective Date of this Policy:

Certification: By signing below, Transferor certifies that the statements and disclosures made herein are true and complete to the best of Transferor's knowledge. Transferee acknowledges receipt of required documents set forth in this Policy and agrees to comply with its terms at Closing.

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