Seller Name Change Addendum To Real Estate Contract
When buying or selling a property, a legally binding contract is signed between the parties involved. The contract includes important details like property description, terms and conditions, and the names of the buyers and sellers. However, sometimes situations arise where either the buyer or the seller wants to change their name. In such cases, a Seller Name Change Addendum can be added to the Real Estate Contract to legally reflect the new name.
What is a Seller Name Change Addendum?
An Addendum is a document that is added to an existing contract to make changes or add new terms. A Seller Name Change Addendum is a legal document that is added to the Real Estate Contract when the seller wants to change their name due to various reasons like marriage, divorce, or legal name change. This document ensures that the new name of the seller is legally recognized in the contract.
Why is a Seller Name Change Addendum Required?
A Real Estate Contract is a legally binding agreement between the buyer and seller. Any changes made to the contract, including name changes, need to be legally recognized to avoid any future disputes. A Seller Name Change Addendum ensures that the new name of the seller is legally recognized in the contract, making it easier to enforce if needed.
How to Create a Seller Name Change Addendum?
Creating a Seller Name Change Addendum is a simple process. The addendum should include the following details:
- The original contract number and date
- The original names of the buyer and seller
- The reason for the name change
- The new legal name of the seller
- The signature of both the buyer and seller
Once the addendum is created, it should be attached to the original Real Estate Contract and signed by both parties to make it legally binding.
Conclusion
In conclusion, a Seller Name Change Addendum is an important legal document that should be added to the Real Estate Contract when the seller wants to change their name. It ensures that the new name is legally recognized in the contract, making it easier to enforce if needed. Creating a Seller Name Change Addendum is a simple process and should be done with the help of a legal professional.