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In this tutorial, the speaker discusses the details of termination and release agreements in transactions. They highlight that while the goal is for all parties to successfully reach closing, this is not always achieved. A termination form is an optional document, recommended only when accompanied by a fully executed release agreement. It serves as unilateral notification from one party to terminate the transaction. The recipient typically responds, often leading to disputes over unmet contract items, which may escalate to litigation. Understanding the proper use of these documents is essential for efficient transaction management.
