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Commercial contract – improved property (1801) Form: What You Should Know
The agent said she thought to use “Commercial Property (TAR 1802), which was the most common form then, but it would have left a better mark for the sale. So that's where we started.” It's important to note that a “Commercial Improvement” is not a separate contract (in contrast to the Commercial Contract—Improving Property). The Seller was only considering the Commercial Contract—Improving Property on the ground that it was an improvement on the existing real estate. (TAR 1802) (Note: The above information was provided by a representative of the seller on Wednesday, May 15, and revised and updated on May 26, with new versions made on July 5, 14 and 16, 2018.) (TAR 1802 (Added by Stats.2017, c. 1353 (S.B.1060), repealed and amended by Business and Professions Code § 654.19(e)) 4-1-18. Existing Contracts of Sale, Trust, or Assignment (Sec. 2)) (TAR-1802) 4-15-18. Seller's Intent & Consent to a Contract for Sale of Property (Sec. 10)) (TAR-1802) 4-22-18. Contract for Sale of Property (Sec. 11)) (TAR-1802) 7-27-18. Subtotal Contract for Sale of Property (Sec. 17)) (TAR-1802) As noted in TAR 1802, the seller was only considering the “improved property” option. However, we do refer to a “contract for sale of property”, as long as there is no other contract for the sale. There's also the issue that the seller was proposing the contract as part of a commercial contract. There can be a number of advantages to doing this, including, but not limited to: reducing the need to obtain a real estate broker or attorney. (TAR 1802 (Added by Stats.2017, c. 1353 (S.B.1060), repealed and amended by Business and Professions Code § 654.19(e))) (TAR-1802) 8-16-18. Notice. (Added by Stats.2017, c. 1304, § 1)) (TAR-1802) 8-16-18.6.
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