OREF 064 & 057: Why Sending Both Forms Matters for a Clean Escrow Termination

Although a buyer may be entitled to send the seller an OREF 064 – Notice of Unconditional Disapproval and thereby terminate the Sale Agreement, that termination is only a unilateral termination, not a joint termination.  Title companies almost always require joint instructions to terminate escrow or to disburse earnest money.  So when you send OREF 064 – Notice of Uncondiitonal Disapproval, send along OREF 057 – Termination Agreement as well.

All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.