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3500.BLD
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1997-07-22
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#3500
@001 State the name of the OWNER of the property:
~Enter the name of the owner who is listing the property
~with the broker
@002 State the name of the BROKER:
~Enter the name of the BROKER
@350 State the property's description:
~Enter the legal description of the property; this is NOT the
~address- usually lot and block number or metes and bounds
#3501/#3502/#3503 The OWNER will exchange for:
~This option provides a selection of three different type of
~exchanges, first, that the owner will only accept a tax free
~exchange; second an exchange JUST for property; or an exchange
~in part for property and in part for cash (the cash is known as
~"boot")
IRS Section 1031 (Tax free exchange)
Property only- no boot
Property with limited boot
#if#3501
!351 Enter maximum boot to be paid by OWNER:
~Enter in numerical form, without using the "$" symbol the
~maximum amount that the owner is willing to pay in the exchange;
~for example 12345.00 or 5000
!352 Enter maximum boot to be received by OWNER:
~Enter in numerical form, without using the "$" symbol the
~maximum amount that the owner is willing to receive in boot;
~note that this amount is usually taxable
#endif
#if#3503
!353 Enter maximum boot to be paid by OWNER:
~Enter in numerical form, without using the "$" symbol the
~maximum amount that the owner is willing to receive in boot;
~note that this amount is usually taxable
!354 Enter maximum boot to be received by OWNER:
~Enter in numerical form, without using the "$" symbol the
~maximum amount that the owner is willing to receive in boot;
~note that this amount is usually taxable
#endif
#3504
@357 Enter the number of days for exclusive listing:
~Enter the amount of time given for the listing. The word
~"days" is already provided.
!355 Enter the minimum commission for BROKER:
~This type of exchange usually has a minimum commission since
~it is possible for there to be no cash, or stated consideration
~below the actual property value
@356 State the percentage of boot received as commission:
~Enter the percentage of boot for the commission
|358 Enter the date of the listing:
~This is the starting date for the listing; you may use either
~alphabetic (October 2, 1994) or numeric format 10/2/94
#end control section
#3500
/* Para. 3500: Real Estate Exchange Listing */
REAL ESTATE BROKERAGE- EXCHANGE AGREEMENT
@001, referred to as OWNER, and @002, referred to as BROKER,
agree:
OWNER owns property described as:
@350
which OWNER desires to exchange for:
#3501
/* Para. 3501.arm: 1031 */
Like kind property, with no more than $ @351 (!351 dollars) boot
required to be paid by OWNER, and no more than $ @352 (!352
dollars) boot to be received by OWNER. The transaction procured
by BROKER shall qualify for a tax free exchange for OWNER,
subject to the limitations of boot described above.
#3502
/* Para. 3502.arm: No boot */
Property of like value, without boot.
#3503
/* Para. 3503.arm: Boot */
Property of like value, with no more than $@353 boot to be
received by OWNER, nor more than $@354 boot to be paid by OWNER.
#3504
/* Para. 3504.arm: Closer */
BROKER is herewith appointed to act as exclusive agent to
negotiate an exchange for a period of @357 days, under the terms
and conditions stated above. Should BROKER procure an exchange,
meeting the criteria stated above BROKER shall be entitled to
compensation as follows:
A minimum commission of $@355 (!355 dollars); and @356 per cent
of boot received (if any).
Dated: |358
_____________________________________________
@001, OWNER
_____________________________________________
@002, BROKER