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How to Protect Real Estate Contract

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The tutorial focuses on protecting real estate, specifically income rental properties and personal residences, from lawsuits. The speaker, with over 25 years of experience in asset protection and a client base of over 40,000, discusses strategies to safeguard these assets. They emphasize the importance of holding title properly to prevent loss in case of a lawsuit. A key tool introduced is the land trust, a legal document that helps shield investment properties by assigning ownership to the trust, thus protecting the asset from being seized. The discussion aims to provide viewers with practical methods to secure their real estate investments effectively.

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What is an example of condition precedent in real estate?

For example, a clause stating that a buyers offer is conditional on the buyer acquiring a neighbouring piece of property would be a true condition precedent, as the act of buying that neighbouring property is entirely dependent upon the will of a third party, in this case the owner of the neighbouring property.

What does protection mean in real estate?

A safety protection clause entitles a real estate broker to a commission if a sale occurs after the listing agreement expires. This protects the broker from collusion between sellers and buyers to save the seller the cost of real estate commission.

How do you write a contingency clause?

A contingency clause often states that your offer to buy property is contingent upon X,Y, Z. For example, the contingency clause may state, The buyers obligation to purchase the real property is contingent upon the property appraising for a price at or above the contract purchase price.

What is the protection clause in a contract?

A safety protection clause entitles a real estate broker to a commission if a sale occurs after the listing agreement expires. This protects the broker from collusion between sellers and buyers to save the seller the cost of real estate commission.

What is the protection period in Florida real estate?

The exclusive listing agreement provides that the broker is entitled to the commission if the property was sold or leased within twelve months after termination of the agreement to any buyer to whom the property was submitted for sale during the continuance of the agreement. This is the brokers protection period.

What is the protected period in real estate in Georgia?

The 90 day protection period is completely standard and just refers to the properties the agent has brought to your attention.

What is protection period?

Protection Period means the period commencing on the date that a Change in Control occurs, and ending on the last day of the twelfth (12th) calendar month following the calendar month during which such Change in Control occurred.

What is the protected period on a broker agreement?

Protection clauses include an expiration date thats typically 30 to 45 days after the listing agreement expires. Some exclusions may apply, which is why its so important to read the fine print and ask questions before signing the contract.

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