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1. Parties: Identification of all parties to the original purchase and sale agreement, including full legal names and addresses
2. Background: Details of the original purchase and sale agreement, including date of execution and basic terms
3. Definitions: Key terms used throughout the agreement, including 'Original Agreement', 'Effective Date', and 'Release'
4. Cancellation of Original Agreement: Clear statement of the mutual agreement to cancel and terminate the original purchase and sale agreement
5. Effective Date of Cancellation: Specification of when the cancellation becomes effective
6. Return of Deposits: Details regarding the return of any deposits or earnest money, including timing and method of return
7. Mutual Release: Comprehensive release of claims, rights, and obligations between the parties
8. No Admission of Liability: Statement that the cancellation and release do not constitute an admission of fault or liability by any party
9. Confidentiality: Terms regarding the confidentiality of the cancellation agreement and its terms
10. Governing Law: Specification of applicable Canadian provincial law governing the agreement
11. Entire Agreement: Statement that this document represents the complete agreement regarding the cancellation
12. Execution: Signature blocks and execution requirements
1. Survival of Certain Provisions: Used when certain provisions of the original agreement should survive the cancellation
2. Third Party Rights: Include when there are third parties (such as realtors or lenders) whose rights need to be addressed
3. Cost Allocation: Used when there are costs associated with the cancellation that need to be allocated between parties
4. Non-Disparagement: Include when parties wish to prevent negative statements about each other regarding the cancelled transaction
5. Return of Documents: Used when there are documents or materials that need to be returned as part of the cancellation
6. Tax Implications: Include when there are significant tax consequences that need to be addressed
7. Insurance and Indemnification: Used when specific risks need to be allocated between parties post-cancellation
8. Dispute Resolution: Include when parties want to specify a method for resolving future disputes about the cancellation
1. Schedule A - Original Purchase and Sale Agreement: Copy of the original agreement being cancelled
2. Schedule B - Deposit History: Detailed record of all deposits paid and held under the original agreement
3. Schedule C - Costs and Expenses: Itemized list of costs incurred and their allocation between parties
4. Schedule D - Payment Instructions: Details for the return of deposits or other payments
5. Appendix 1 - Related Party Releases: Additional release forms for related parties if applicable
6. Appendix 2 - Property Documentation: List of all property-related documents exchanged during the transaction
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Property Development
Construction
Banking and Finance
Legal Services
Insurance
Property Management
Real Estate Investment
Commercial Property
Residential Property
Legal
Real Estate Operations
Compliance
Risk Management
Property Management
Contract Administration
Real Estate Development
Corporate Services
Transaction Services
Title and Escrow
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
Legal Counsel
Contract Manager
Compliance Officer
Real Estate Operations Manager
Transaction Coordinator
Title Officer
Escrow Officer
Real Estate Development Manager
Real Estate Investment Manager
Corporate Counsel
Paralegal
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