REPC changes

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  #1  
Old 01-31-06, 04:02 PM
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REPC changes

Is the following example legal?

Mr. and Mrs. Smith agree to purchase a home from Mr. Jones. The purchase contract is completed. Then an addendum is added that takes Mr. and Mrs. Smith off as the buyers and adds Mr. and Mrs. Brown as the buyers.
 
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Old 01-31-06, 04:23 PM
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aggie01, Welcome to the DIY Forums.
To get an answer here, you will need to give all the information available. The whens, wheres, whys and whos. Your post is too generic to possibly give an answer. Please detail exactly what happened. Good luck.
 
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Old 01-31-06, 05:57 PM
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Real Estate Purchase Contract

IF the ORIGINAL purchase contract said; "Mr. and Mrs. Smith, and/or assigns", then probably. Otherwise NO.

I'm not a lawyer, but I occassionally play one at the community theatre.

frank
 
  #4  
Old 02-01-06, 12:51 PM
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Upon further inspection in tiny handwritten print on the 1st addendum it states: "Buyer will have the right to assign his rights under this contract."

Also some more information. On the 3rd addendum it states, "Remove Mr. and Mrs. Smith as buyers and add Mr. and Mrs. Brown as buyers on the REPC".

Addendum 4 states, "In addendum 3, the buyer, Mr. and Mrs. Smith, have requested that they be deleted as the buyers of the property and substitute Mr. and Mrs. Brown as the buyers. Seller is willing to make said request, however, seller requires both the Smith's and the Brown's to sign this addendum 4. By signing this addendum, Mr. and Mrs. Brown acknowledge that they have read the REPC and all previous Addenda and they agree to all terms and conditions of each, including, but not limited to: 1)the purchase price, 2)that the earnest money deposit is non-refundable, and 3)they agree with the specifications of the wet bar to be contructed."
 
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