MetroTex NEWS

Watch Now: TREC Contract Changes Coming April 1

Kristi Davis of the MetroTex Forms & Contracts Committee and Charles Kramer of Republic Title joined us recently to discuss TREC’s approved changes to the promulgated contract forms, which go into effect April 1, 2021.

The most significant of those affect delivery of the termination option fee.

We discussed changes made to Paragraph 5; the revised section combines payment of earnest money and termination option in a single provision and calls for payment of the termination option fee to the title agent. Watch now!

Watch more videos from the On Contracts series.