The information in this form varies according to the contract, but the basic content below is available in each addendum extension document. Renewal or renewal of a lease agreement must be carefully considered, taking into account the potential pros and cons. Regardless of the title of a lease, clear and explicit language that reflects your intentions can help avoid some of the unintended consequences of creating one of the two documents. This document is used when the parties involved enter into an agreement to extend the date on which the buyer can conclude on the property. The extension may be caused by unforeseen circumstances, including, but not only, problems with the title, the buyer`s desire to sell his property, the financing of the buyer or any other reason accepted by the seller. In a case where the seller does not feel the need for an extension, he may require, in accordance with the sales contract, that the deposit of money be refunded to the buyer. Under the terms of the sales contract, the seller may, if he does not wish to grant a renewal, demand that the deposit be refunded to the buyer. Although market conditions have changed in favour of the seller, since the property has been contracted, the seller may be motivated to grant an extension in the hope that the buyer will close at the agreed sale price. Rent extensions and rent renewals allow the tenant (and landlord) to continue to rent a property. However, if you want to extend your rental, you need to determine which document is best for your circumstances.
It is important to think about how the distinction between the extension or extension of the lease could affect other commitments and terms of the lease. If extensions and extensions have similar effects, there are some differences. The buyer space will be the first at the end of this document. They must present a valid signature, print their name and register the current date on the space with the terms « buyer`s signature, » « print name » and « date. » The « Signature of the Seller » line must be signed by the seller who signed the original contract. His or her printed name must also be represented (in the « Print Name » line) with the « date » he or she has signed.