The Unconditional Release From Listing Agreement is utilized when parties wish to formally terminate their existing real estate listing arrangement before its natural expiration. This document becomes necessary in various situations, such as when the property owner decides to withdraw the property from the market, when there's a mutual agreement to end the listing relationship, or when circumstances necessitate an early termination of the listing agreement. Operating under Indian jurisdiction and complying with the Indian Contract Act, 1872, and RERA regulations, this agreement ensures a clean break between parties by addressing commission structures, pending transactions, return of materials, and mutual releases from future claims. It's particularly important in the Indian real estate market where clear documentation of relationship termination helps prevent future disputes and ensures regulatory compliance.
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1. Parties: Identification of the real estate agent/broker and property owner with complete details including registration numbers
2. Background: Reference to the original listing agreement, its date, and key terms
3. Definitions: Key terms used in the agreement including 'Listing Agreement', 'Property', 'Effective Date' of release
4. Release and Discharge: Clear statement of unconditional release from the listing agreement and mutual discharge of obligations
5. Representation Termination: Explicit termination of agent's authority to represent the property owner
6. Return of Materials: Obligation to return all property-related materials, keys, and documents
7. Payment Settlement: Statement regarding any outstanding payments or commission arrangements
8. Mutual Release: Waiver of claims and rights against each other related to the listing agreement
9. Governing Law: Specification of Indian law as governing law and jurisdiction
10. Execution: Signature blocks and execution details
1. Confidentiality: Used when there's sensitive information involved or when parties want to maintain confidentiality about the termination
2. Pending Transactions: Include when there are ongoing negotiations or potential buyers introduced by the agent
3. Commission Protection Period: Used when parties agree to protect agent's right to commission for specific leads for a defined period
4. Marketing Materials: Include when there are specific provisions about removal of listings, advertisements, or marketing materials
5. Dispute Resolution: Optional arbitration or mediation clause for resolving any future disputes
6. Survival Clause: Used when certain obligations need to survive the termination
1. Schedule A - Property Details: Details of the property that was subject to the listing agreement
2. Schedule B - Original Listing Agreement: Copy or key terms of the original listing agreement being terminated
3. Schedule C - Outstanding Matters: List of any pending matters, leads, or transactions if applicable
4. Appendix 1 - Settlement Statement: If applicable, detailed statement of any financial settlements between parties
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Real Estate Agent
Property Broker
Real Estate Manager
Property Owner
Legal Counsel
Real Estate Attorney
Compliance Officer
Property Manager
Real Estate Director
Business Development Manager
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