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Termination Of Buyer Tenant Representation Agreement Template for Canada

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Key Requirements PROMPT example:

Termination Of Buyer Tenant Representation Agreement

"I need a Termination of Buyer Tenant Representation Agreement for a mutual end to our commercial property search, acknowledging that the agent showed 12 properties and including a 90-day holdover period for these properties, with the termination to be effective March 15, 2025."

Document background
The Termination Of Buyer Tenant Representation Agreement is essential when either party wishes to formally end their professional relationship in a Canadian real estate context. This document becomes necessary when a client wishes to change representation, when the search for property has been unsuccessful, or when either party needs to terminate the relationship for other reasons. It includes specific provisions required by Canadian provincial real estate regulations, including the handling of any shown properties, commission structures, and confidentiality obligations. The agreement protects both parties by clearly defining the end of their professional relationship and any surviving obligations. It's particularly important in situations where properties have been shown but no transaction has been completed, or where there are outstanding commission considerations.
Suggested Sections

1. Parties: Identification of the buyer/tenant client and the real estate brokerage/agent, including full legal names and contact information

2. Background: Reference to the original Buyer Tenant Representation Agreement, including its date and key terms

3. Definitions: Definition of key terms used in the termination agreement

4. Termination Date: Specific date when the representation agreement will be terminated

5. Mutual Release: Statement that both parties agree to release each other from obligations under the original agreement

6. Outstanding Obligations: Description of any remaining duties or obligations that survive termination

7. Compensation Provisions: Details regarding any fees, commissions, or compensation due or waived

8. Return of Materials: Requirements for returning any documents, keys, or materials provided during the representation

9. Confidentiality: Ongoing obligations regarding confidential information

10. Governing Law: Specification that the agreement is governed by Canadian law and the applicable province

11. Execution: Signature blocks and date of execution

Optional Sections

1. Holdover Period: Terms regarding any properties shown during representation and potential future transactions, used when there's concern about future claims for commission

2. Dispute Resolution: Procedures for resolving any disputes that may arise, included when parties want to specify arbitration or mediation

3. Partial Termination: Used when only certain aspects of the representation agreement are being terminated while others remain in effect

4. Assignment of Rights: Included when there's a need to transfer rights or obligations to another party

5. Severability: Clause stating that if any provision is found invalid, the rest remains in effect, included in more complex terminations

6. Indemnification: Protection against future claims or liabilities, used in high-risk situations

Suggested Schedules

1. Schedule A - Original Agreement: Copy of the original Buyer Tenant Representation Agreement being terminated

2. Schedule B - Property Listing: List of properties shown or discussed during the representation period

3. Schedule C - Fee Calculation: Detailed breakdown of any fees or compensation being paid or waived

4. Appendix 1 - Supporting Documentation: Any relevant correspondence or documents supporting the termination

5. Appendix 2 - Proof of Services: Documentation of services provided during the representation period

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
























Clauses




















Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Office Space

Industrial Property

Professional Services

Legal Services

Property Management

Corporate Real Estate

Relevant Teams

Legal

Real Estate Operations

Compliance

Property Acquisition

Contract Administration

Client Relations

Transaction Processing

Risk Management

Corporate Services

Document Management

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Acquisition Manager

Corporate Real Estate Manager

Real Estate Legal Counsel

Real Estate Transaction Coordinator

Tenant Representative

Commercial Property Manager

Legal Administrator

Compliance Officer

Real Estate Operations Manager

Client Relations Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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