The Listing Agreement Termination is a crucial document used in Canadian real estate transactions when parties wish to formally end their listing agreement before its natural expiration date or when the term has concluded. 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 a change in real estate representation. The document must comply with provincial real estate regulations and professional standards, while addressing key aspects such as the release of obligations, handling of any outstanding fees, and treatment of any protection period for potential buyers introduced during the listing period. It's essential to include specific details about the original listing agreement, property information, and clear terms of termination to ensure a legally sound and professionally executed conclusion to the listing relationship.
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1. Parties: Identification of the property owner(s) and the real estate brokerage/agent, including full legal names and contact information
2. Background: Reference to the original listing agreement, including its date, property details, and listing period
3. Definitions: Key terms used in the termination agreement, including references to the original listing agreement terms
4. Termination Statement: Clear statement of the mutual agreement to terminate the listing agreement and the effective date of termination
5. Property Description: Full legal description of the property that was subject to the original listing agreement
6. Release of Obligations: Statement releasing both parties from future obligations under the original agreement
7. Outstanding Fees: Statement regarding any fees, commissions, or expenses that may be due or waived
8. Governing Law: Specification that the agreement is governed by Canadian law and the applicable provincial jurisdiction
9. Execution: Signature blocks for all parties and date of execution
1. Hold Harmless: Mutual release from any claims or liabilities - included when there's a need for additional legal protection
2. Protection Period: Terms regarding any continuing obligations related to potential buyers introduced during the listing period - used when there are active prospects
3. Marketing Materials: Provisions regarding the removal of advertising materials and online listings - included when there are active marketing campaigns
4. Confidentiality: Terms regarding ongoing confidentiality obligations - used when sensitive information was shared during the listing period
5. Return of Materials: Provisions for returning any documents, keys, or materials - included when the agent holds property-related items
6. Surviving Provisions: Identification of any terms from the original agreement that will survive termination - used when certain obligations continue
1. Schedule A - Original Listing Agreement: Copy or key details of the original listing agreement being terminated
2. Schedule B - Property Details: Detailed property description and any relevant certificates or documentation
3. Schedule C - Financial Settlement: Detailed breakdown of any financial settlements, fees, or commission arrangements if applicable
4. Appendix 1 - Marketing Materials Inventory: List of marketing materials to be removed or destroyed, if applicable
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