ALL FORMS WITH A VERSION DATE PRIOR TO JANUARY 1, 2020 EXPIRED 12/31/2020.
Use of withdrawn or expired forms is in violation of the copyright. It is a violation of the Missouri law to use forms for which the approval has been withdrawn. The Association will not defend the use of withdrawn or expired forms. Generally, E&O insurance policies require the use of current approved forms.
The following were either revised or created for our 2021 Forms Library:
1. REVISED FORM – 2120 Back-Up Contract Rider:
The revisions derived from suggestion forms submitted by several members. As Back-Up contracts are becoming more prevalent, there is a need to give notice to parties named in the contract of either a prior contract release or buyer’s termination. By not having these form(s), the only option is for parties to sign an amendment which could create a timing issue with other contract timeframes. The two sets of terms (waiver or written release) for the Back-Up Sale Contract becoming primary were separated into distinct statements. Version dated 10/04 will expire 12/31/20 & Version dated 01/20 will expire June 30, 2021.
2. NEW FORM – 2120a Back-Up Contract Notice:
Back-Up Contract Notice was created as a way to deliver the notifications outlined on the Back-Up Contract Rider from Seller for Waiver or Release and for Buyer to Withdraw. Since this is a new notice form, we did not want repercussions if an agent did not use the Notice form to provide written notice; therefore, the notice is only referenced as available for use in the Note at the bottom of the rider. The committee reviewed several suggestions forms relating to the need for a form such as this.
3. REVISED FORM – 2085 Lockbox Authorization & Tenant Privacy Release:
The original form was just for a lockbox authorization, whereas our new version contains lockbox authorization and language regarding privacy release. It is a warning/disclosure for the tenant that the REALTOR will have photos taken for marketing, and for the tenant to make sure their personal items are secured for showings. By signing, the tenant holds the REALTOR harmless. To keep up with today’s smart home technology, we added a paragraph regarding a tenant recording any prospective buyers or agents while on the property (think Ring doorbell) just to be safe. The existing lockbox language and grammar mistakes were corrected, and the privacy release language and disclosure about electronically recording other people at the property was also added. Version dated 01/20 will expire 6/30/21.