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Write a Real Estate Hold Harmless Agreement for a real estate agent
Real Estate Hold Harmless Agreement for a Real Estate Agent
Table of Contents
Introduction
Definitions
Agreement
Scope of Agreement
Indemnification
Waiver of Liability
Obligations of the Parties
Obligations of the Real Estate Agent
Obligations of the Client
Term and Termination
Governing Law
Dispute Resolution
Miscellaneous Provisions
Signatures
1. Introduction
This Real Estate Hold Harmless Agreement (hereinafter referred to as the "Agreement") is made and entered into on this [Date] by and between:
[Client's Full Name], residing at [Client's Address] (hereinafter referred to as the "Client"), and
[Real Estate Agent's Full Name], a licensed real estate agent with [Real Estate Agency Name], located at [Real Estate Agency Address] (hereinafter referred to as the "Agent").
The Client and the Agent are collectively referred to as the "Parties" and individually as a "Party."
2. Definitions
Hold Harmless: A clause in a contract that absolves one party from responsibility for certain types of damages or losses.
Indemnify: To compensate for harm or loss.
Client: The individual or entity engaging the services of the real estate agent.
Agent: The licensed real estate professional providing services to the Client.
3. Agreement
3.1 Scope of Agreement
The Client agrees to engage the services of the Agent for the purpose of [describe the purpose, e.g., buying, selling, or leasing real estate property]. The Agent agrees to provide these services in accordance with the terms and conditions set forth in this Agreement.
3.2 Indemnification
The Client agrees to indemnify, defend, and hold harmless the Agent from and against any and all claims, liabilities, losses, damages, costs, or expenses (including reasonable attorney's fees) arising out of or in connection with:
Any breach by the Client of any representation, warranty, or covenant contained in this Agreement.
Any negligent or wrongful act or omission by the Client.
Any claims made by third parties arising out of the Client's use of the Agent's services.
3.3 Waiver of Liability
The Client hereby waives any and all claims, demands, and causes of action against the Agent for any and all losses, damages, or injuries of any kind arising out of or in connection with the services provided by the Agent, except to the extent such losses, damages, or injuries are caused by the gross negligence or willful misconduct of the Agent.
4. Obligations of the Parties
4.1 Obligations of the Real Estate Agent
The Agent agrees to:
Provide professional real estate services to the Client in accordance with applicable laws and regulations.
Act in the best interests of the Client and provide honest and accurate information.
Maintain confidentiality of all information provided by the Client, except as required by law.
4.2 Obligations of the Client
The Client agrees to:
Provide accurate and complete information to the Agent.
Cooperate with the Agent in the performance of their duties.
Comply with all applicable laws and regulations related to the real estate transaction.
5. Term and Termination
This Agreement shall commence on the date first written above and shall continue until the completion of the real estate transaction or until terminated by either Party upon [number] days' written notice to the other Party.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of Kenya.
7. Dispute Resolution
In the event of any dispute arising out of or in connection with this Agreement, the Parties shall first attempt to resolve the dispute through good faith negotiations. If the dispute cannot be resolved through negotiations, the Parties agree to submit the dispute to mediation before resorting to litigation.
8. Miscellaneous Provisions
Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements, understandings, and representations, whether oral or written.
Amendments: Any amendments to this Agreement must be in writing and signed by both Parties.
Severability: If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Waiver: No waiver of any provision of this Agreement shall be deemed a waiver of any other provision, nor shall any waiver constitute a continuing waiver.
9. Signatures
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
Client:
[Client's Full Name]
[Client's Address]
[Date]
Real Estate Agent:
[Real Estate Agent's Full Name]
[Real Estate Agency Name]
[Real Estate Agency Address]
[Date]
Conclusion
This Real Estate Hold Harmless Agreement is designed to protect the real estate agent from liability arising from the services provided to the client. It outlines the responsibilities and obligations of both parties, ensuring a clear understanding of the terms and conditions of the engagement. By signing this Agreement, both parties acknowledge their acceptance of these terms and agree to abide by them.
TLDR
A Real Estate Hold Harmless Agreement protects the real estate agent from liability related to the services provided to the client. It includes indemnification, waiver of liability, and outlines the obligations of both parties. The agreement is governed by Kenyan law and includes provisions for dispute resolution.
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