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Agreement To Rescind Contract Of Sale

SALES OF PROPERTY CONTRACT. The contract of sale of Real Estate property located in ________________ County, _______________ [state], and described as: ____________________ [set forth legal description], which contract was executed on [date] by the undersigned as seller and purchaser, respectively, is hereby by mutual agreement of the parties, rescinded and terminated.

Seller waives and releases all right and claim against purchaser, and purchaser waives and releases all right against seller and all right, title, and interest in the described real property.

Each individual party to this Agreement represents and warrants to each other party that such party has read and fully understands the terms and provisions hereof, has had an opportunity to review this Agreement with legal counsel, and has executed this Agreement based upon such party's own judgment and advice of independent legal counsel.

The deposit previously made by purchaser shall be _________ [returned in its entirety to purchaser or retained by seller or as the case may be].

This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.

All costs costs and charges incurred to date shall be ________ [borne and paid equally by the parties or as the case may be].

Executed in duplicate at _________ [designate place of execution] on _________[date].

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Signature

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Acknowledgment

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Signature

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Acknowledgment