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DATE: _____________, 20______, at _____________________________________________________, California.
Items left blank or un checked are not ap pli ca ble.
FACTS:
1. This mutual cancellation and release agreement with waiver of rights pertains to the following agreement:
Purchase agreement
Exchange agreement
_______________________________________________
1.1 dated _____________, 20______, at _____________________________________________, California,
1.2 entered into by _________________________________________________________, as the Buyer, and
__________________________________________________________________________, as the Seller,
1.3 whose real estate brokers (agents) are
Buyer’s Broker__________________________________________________________________________
Seller’s Broker _________________________________________________________________________,
a. If an exchange is involved, the first and second parties to the exchange are here identified as Buyer
and Seller, respectively.
1.4 regarding real estate referred to as _________________________________________________________
_____________________________________________________________________________________.
1.5 Escrow Agent ___________________________________________ Escrow Number _______________
AGREEMENT:
2. Buyer and Seller hereby cancel and release each other and their agents from all claims and obligations, known or
unknown, arising out of the above referenced agreement.
3. The real estate broker(s) and escrow agent(s) are hereby instructed to return all instruments and funds to
the parties depositing them.
4. Costs and fees to be disbursed and charged to
Seller, or Buyer.
4.1 $_______________ to ___________________________________________________________________
4.2 $_______________ to ___________________________________________________________________
4.3 ______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
5. The parties hereby waive any rights provided by Section 1542 of the California Civil Code, which provides:
“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her
favor at the time of executing the release, which if known by him or her must have materially affected his or her
settlement with the debtor.”
I agree to the terms stated above.
See attached Signature Page Addendum. [ft Form 251]
Date: _____________, 20______
Buyer’s Name: ________________________________
Signature: ____________________________________
Buyer’s Name: ________________________________
Signature: ____________________________________
I agree to the terms stated above.
See attached Signature Page Addendum. [ft Form 251]
Date: _____________, 20______
Seller’s Name: _________________________________
Signature: _____________________________________
Seller’s Name: _________________________________
Signature: _____________________________________
FORM 181 03-11 ã2011 first tuesday, P.O. BOX 20069, Riverside, CA 92516 (800) 794-0494
CANCELLATION OF AGREEMENT
Release and Waiver of Rights with Distribution of Funds in Escrow
Prepared by: Agent ____________________________
Broker ____________________________
Phone _______________________
Email _______________________