Name Change Addendum To Real Estate Contract Sample
Introduction
Buying or selling a property involves a lot of paperwork and legal documents, including the real estate contract. This contract outlines the terms and conditions of the transaction, including the purchase price, closing date, and contingencies. However, sometimes circumstances change after the contract has been signed, and one of the parties may need to change their name. In this case, a name change addendum to the real estate contract must be added. This article will provide sample language for a name change addendum and explain when it is necessary.
When Is A Name Change Addendum Necessary?
A name change addendum is necessary when one of the parties involved in the real estate transaction changes their name after the contract has been signed. This can happen due to marriage, divorce, or other reasons. The name change addendum ensures that all parties involved are aware of the change and that the legal documents correctly reflect the new name.
Sample Language For Name Change Addendum
Below is sample language that can be used for a name change addendum to a real estate contract:
"Addendum to Real Estate Contract dated [Date of Original Contract] between [Name of Buyer] and [Name of Seller]. Whereas, the Buyer's name has been changed to [New Name], the parties agree to amend the original contract accordingly. From this point forward, all references to the Buyer in the original contract shall be deemed to refer to the [New Name]."
This language can be modified to fit the specific circumstances of the name change. Both parties must sign the addendum for it to be legally binding.
Conclusion
A name change addendum to a real estate contract is necessary when one of the parties involved changes their name after the contract has been signed. This ensures that all legal documents reflect the new name and that all parties involved are aware of the change. By using the sample language provided in this article, parties can easily create a name change addendum and ensure that the transaction proceeds smoothly.