If you have multiple amendments
One for repairs, one changing the sales price due to appraisal, several for extending closing, and a few for monies that are going to be given by seller for living expenses to my buyer. Does one amendment override the other? I am asking because I hadn't ever dealt with suck a sticky mess. I had over 6 amendments, and I have no idea one would override the other, but per title it does. I have never heard this. Can someone please explain? If that is the case, how did the sales price and repair amendment not get X out? Any help is greatly appreciated.
This is definitely a question you should contact your broker and possibly an attorney about, because we don’t have the docs in front of us, and we don’t know the whole story. With that said, and going strictly off what you’ve stated, that’s incorrect- the only way you can “override” or void a previous amendment is by stating that the terms of a previous amendment are either amended or voided. As an extreme example, if you had 3 repairs that a buyer and seller agreed to, and for funsies or some f...
This is definitely a question you should contact your broker and possibly an attorney about, because we don’t have the docs in front of us, and we don’t know the whole story. With that said, and going strictly off what you’ve stated, that’s incorrect- the only way you can “override” or void a previous amendment is by stating that the terms of a previous amendment are either amended or voided. As an extreme example, if you had 3 repairs that a buyer and seller agreed to, and for funsies or some form of self-loathing, you wanted to put each negotiated repair into a separate amendment, you could theoretically do that, and unless you inserted the words “This amendment voids all previous amendments” or “Repair xyz in the previous amendment effective 00/00/0000 is hereby struck/voided.” Then the previous 50 amendments that have been put into play are still valid and enforceable.
Again, if the title company is really pushing this, I would involve your broker, and get the opinion of the other agent too, because any changes to the contract or amendments could have seriously detrimental effects on both the buyer and seller, and unless you broker or an attorney tells you that everything should be changed, I wouldn’t do it. The title agent isn’t an attorney, and they are not always right, as much as they like to think they are.
While I’m not a lawyer, an amendment must clearly reference the affected paragraph(s) of an executed contract. Amendments are independent of each other. With that, Multiple amendments should only affect the specific paragraph/section identified in each amendment. If a specific paragraph is repeatedly modified through multiple amendments/agreement then the most recent applicable executed amendment stands. It is my understanding that you do not have to restate, “re-agree”, or re-execute prio...
While I’m not a lawyer, an amendment must clearly reference the affected paragraph(s) of an executed contract. Amendments are independent of each other. With that, Multiple amendments should only affect the specific paragraph/section identified in each amendment. If a specific paragraph is repeatedly modified through multiple amendments/agreement then the most recent applicable executed amendment stands. It is my understanding that you do not have to restate, “re-agree”, or re-execute prior non related modifications. Quite often we may have two amendments: change to closing date (paragraph 9) and then request for price change (paragraph 3). the second executed amendment doesn’t negate the first
Im not a lawyer. Ask one
Based on bring an energy contract negotiator and manager experience, When you amend the K, you reference a specific article and section of the contract. A second amendment would only override the previous amendment if you referenced the specific section of the contract you referenced in first amendment. If you referenced a new article section in a subsequent amendment, it would not affect the change in amendment I.
That is why you should be very specific about wh...
Im not a lawyer. Ask one
Based on bring an energy contract negotiator and manager experience, When you amend the K, you reference a specific article and section of the contract. A second amendment would only override the previous amendment if you referenced the specific section of the contract you referenced in first amendment. If you referenced a new article section in a subsequent amendment, it would not affect the change in amendment I.
That is why you should be very specific about which article section is bring amendment ie. Article 7.2.A.(1)b
And say replaces and smends
Business Law Class at U.T Austin. \nExperience 16 years as Contract Manager snd Negotiator\nI sm not a lawyer so ask a lawyer\nDo t necessarily drpend...
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