SECTION 1031 EXCHANGE ADDENDUM

TITLE POLICY

This Addendum is made to the Purchase And Sale Agreement, which is entitled _________________________________________, dated, between _________________________________________ (as Buyer/Exchangor) and _________________________________________ (as Seller).

IT IS, THEREFORE, AGREED BETWEEN BUYER AND SELLER AS FOLLOWS:


The closing agent is instructed to retain funds for the purchase of the title policy in escrow until the property is subsequently transferred from the Intermediary to the Buyer/Exchangor. At the subsequent transfer of title, the funds will be used to purchase a title policy for the benefit of the Buyer/Exchangor.

All other provisions of the Purchase And Sale Agreement remain in full force and effect.


Seller ______________________ Date __________

 

Seller ______________________ Date __________

 

Buyer ______________________ Date __________

 

Buyer ______________________ Date __________