2014 IAR Residential Forms Changes
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2013 Residential Forms Changes
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Transcript of 2014 IAR Residential Forms Changes
2013 Residential Forms Changes
2013 Residential Forms Changes
The following 2014 Legal Forms were revised:
Agreement Regarding Personal Property
Amendment to Lease Agreement
Supplemental Indemnification Agreement
2014 Residential Forms Changes
The following 2014 Legal Forms are new:
Purchase Agreement
Listing Contract
2013 Residential Forms Changes
Deleted “immediately.” The relevant deadline is if the buyer complies with the inspection timeline – not when the inspection is ordered.
2014 Residential Forms Changes
Line 167
Rationale:
2013 Residential Forms Changes
Made bold to emphasize the definition of “Defect.”
2014 Residential Forms Changes
Line 193
Rationale:
2013 Residential Forms Changes 2014 Residential Forms Changes
Line 81
Removed “lien” verbiage. No legal right to an automatic lien on the property. Misleading as to Indiana law. A listing agent can still file a claim for commission but they cannot file a lien.
Rationale:
2013 Residential Forms Changes 2014 Residential Forms Changes
Line 96
Removes “Listing Profile Sheet” because most agents do not use it and, if they do, do not have it completed at time of listing appointment in order for Seller to say they have seen it.
Rationale:
2013 Residential Forms Changes 2014 Residential Forms Changes
Line 191
Removed “multiple” to make consistent with Code of Ethics. Rationale:
2013 Residential Forms Changes 2014 Residential Forms Changes
Line 256
Add “DATE” after Broker Signature to include date Broker accepted the listing contract.
Rationale:
2013 Residential Forms Changes 2014 Residential Forms Changes
To protect members from liability when using a listing agreement other than the IAR approved contract. This language is likely not contained in an REO listing contract.
Purpose:
Supplemental Indemnification Agreement
*Not in ZipForms Available under the Legal Library section at www.indianarealtors.com
New Legal Form:
2013 Residential Forms Changes 2014 Residential Forms Changes
New Legal Form:
Agreement Regarding Personal Property
2013 Residential Forms Changes 2014 Residential Forms Changes
New Legal Form:
Amendment To Lease Agreement
2013 Residential Forms Changes 2014 Residential Forms Changes
All changes to existing IAR forms and the new forms will be available for member use after January 1, 2014.
All copyright dates will be changed to 2014.
2013 Residential Forms Changes
Ques%ons on these changes may be directed to the IAR Legal Hotline. The IAR Legal Hotline is available to principal and managing broker members, and their designated agents, statewide.
1.800.444.5472 toll free Indiana 1.317.913.3254 local 1.317.842.8494 fax [email protected]
IAR Legal Hotline:
Special thanks must be extended to the IAR Forms CommiBee. This volunteer group provides many hours of Eme each year to provide the most current updates to these forms.
2014 Residential Forms Changes
