Ƶ

Release Of Contract (Real Estate) for Canada

Release Of Contract (Real Estate) Template for Canada

This document is a legally binding agreement used in Canadian real estate transactions to formally terminate and release parties from their obligations under an existing real estate contract. It operates under Canadian property law and relevant provincial legislation, providing a comprehensive framework for mutual release of all parties from their contractual obligations. The document includes provisions for the return or forfeit of deposits, mutual releases from claims and liabilities, and may address real estate agent commissions and other financial considerations. It ensures compliance with provincial real estate regulations and provides legal protection for all parties involved in the termination of the real estate contract.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Release Of Contract (Real Estate)

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Release Of Contract (Real Estate)?

The Release Of Contract (Real Estate) is a crucial legal document used in Canadian real estate transactions when parties need to formally terminate their contractual obligations. This document becomes necessary in various situations, such as when a property sale falls through due to failed conditions, mutual agreement to terminate, or other circumstances where parties need to legally disengage from their contractual obligations. The release must comply with provincial real estate regulations and property laws, as real estate matters in Canada are primarily governed at the provincial level. It typically includes detailed information about the original contract, property specifics, financial arrangements including deposits, and mutual releases from all claims and obligations. This document is essential for protecting all parties' interests and providing a clear legal record of the contract termination.

What sections should be included in a Release Of Contract (Real Estate)?

1. Parties: Identification of all parties involved in the release, including the original buyer, seller, and any other parties to the original contract

2. Background: Details of the original contract including date, subject property, and brief description of why the release is being executed

3. Definitions: Key terms used in the release document, including references to the original contract, property, and any specific terms relevant to the release

4. Release Terms: Specific details of how the contract is being terminated and released, including the effective date of release

5. Consideration: Details of any payment or consideration being provided in exchange for the release

6. Mutual Release: Statement that all parties mutually release each other from all claims, demands, and obligations under the original contract

7. Return of Deposits: Specifications regarding the return or forfeit of any deposits or payments made under the original contract

8. Representations and Warranties: Statements confirming that each party has the authority to enter into the release and understands its implications

9. Governing Law: Specification that the release is governed by Canadian law and the specific provincial jurisdiction

10. Execution: Signature blocks and execution requirements for all parties

What sections are optional to include in a Release Of Contract (Real Estate)?

1. Surviving Obligations: Used when certain obligations from the original contract need to survive the release, such as confidentiality provisions

2. Indemnification: Include when one party needs to protect against future claims or losses related to the released contract

3. Costs and Expenses: Used when there needs to be a clear allocation of costs related to the release or the original transaction

4. Non-Disparagement: Include when parties wish to prevent negative statements about each other after the release

5. Confidentiality: Used when parties want to keep the terms of the release private

6. Future Cooperation: Include when parties need to specify any ongoing obligations to cooperate in related matters

7. Release of Real Estate Agent Commissions: Include when there are arrangements regarding real estate agent commissions that need to be addressed

What schedules should be included in a Release Of Contract (Real Estate)?

1. Schedule A - Original Contract: Copy or key details of the original real estate contract being released

2. Schedule B - Property Description: Legal description and details of the property involved in the original contract

3. Schedule C - Payment Details: Breakdown of any payments, refunds, or financial arrangements related to the release

4. Schedule D - Release Conditions: Any specific conditions that must be met for the release to take effect

5. Appendix 1 - Supporting Documents: Any relevant supporting documents such as proof of deposits or related correspondence

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Canada

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions



























Clauses

























Relevant Industries

Real Estate

Legal Services

Property Development

Banking and Finance

Insurance

Property Management

Construction

Real Estate Investment

Commercial Property

Relevant Teams

Legal

Real Estate Operations

Property Management

Contract Administration

Risk and Compliance

Business Development

Investment

Document Processing

Client Relations

Transaction Processing

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Lawyer

Legal Counsel

Property Developer

Real Estate Investment Manager

Title Officer

Mortgage Officer

Property Manager

Real Estate Transaction Coordinator

Contracts Administrator

Legal Document Specialist

Real Estate Paralegal

Compliance Officer

Risk Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Week To Week Lease Termination

A Canadian jurisdiction-compliant notice document for terminating week-to-week tenancy agreements, following provincial residential tenancy laws and notice requirements.

find out more

Termination Of Month To Month Tenancy

A legal notice document used in Canadian jurisdictions to terminate a month-to-month residential tenancy, providing required notice and termination details in compliance with provincial laws.

find out more

Letter Of Finish Contract

A Canadian legal document certifying the completion of contracted construction work, triggering final payment and warranty terms.

find out more

Landlord Breaking Tenancy Agreement

A Canadian legal document for landlords to terminate residential tenancy agreements in compliance with provincial tenancy laws.

find out more

Terminating A Franchise Agreement

A Canadian legal document that formally terminates a franchise relationship, ensuring compliance with federal and provincial franchise laws while protecting both parties' interests.

find out more

Release Of Contract (Real Estate)

A Canadian legal document that terminates and releases parties from their obligations under an existing real estate contract, governed by federal and provincial property laws.

find out more

Ending An Employment Contract Early

Canadian employment contract early termination agreement outlining termination terms, severance, and mutual obligations under federal and provincial law.

find out more

Landlord Breaks Lease Agreement

A Canadian legal document formalizing a landlord's early termination of a lease agreement, ensuring compliance with provincial/territorial residential tenancy laws.

find out more

Letter Not To Renew Contract

A formal Canadian business document providing notice of intent not to renew an existing contract at the end of its current term.

find out more

Early Tenancy Termination

A Canadian legal agreement that enables the early termination of a lease, ensuring compliance with provincial tenancy laws while protecting both landlord and tenant interests.

find out more

Cancellation Of Lease Agreement By Landlord

A Canadian legal document used by landlords to formally terminate a lease agreement, ensuring compliance with provincial tenancy laws and regulations.

find out more

Listing Agreement Termination

A Canadian jurisdiction document that formally terminates a real estate listing agreement between property owners and real estate professionals, outlining termination terms and mutual obligations.

find out more

Termination Of Contract Of Service

A Canadian legal document that formalizes the termination of employment between an employer and employee, ensuring compliance with federal and provincial employment laws.

find out more

Termination Of Contract Letter To Employer

A formal resignation letter compliant with Canadian employment law, used by employees to notify employers of their intention to end their employment contract.

find out more

Tenancy At Will Termination

A Canadian legal document used to formally terminate a tenancy at will arrangement, complying with provincial regulations and notice requirements.

find out more

Premature Termination Of Contract

A Canadian law-governed document that formally terminates an existing contract before its intended end date, outlining termination terms and parties' obligations.

find out more

Cancellation Of Condominium Contract

A Canadian legal document that terminates a condominium purchase agreement under provincial legislation, addressing termination terms and deposit refunds.

find out more

Cancellation Of Development Agreement

A Canadian legal document that formally terminates a Development Agreement between parties, addressing all related obligations and settlements under Canadian federal and provincial law.

find out more

Not Renewing Lease Letter

A formal Canadian legal document notifying tenants that their lease agreement will not be renewed upon expiration.

find out more

Buyer Termination Of Contract

A formal notice under Canadian law used by buyers to terminate a contractual relationship, stating termination grounds and effective date.

find out more

Truck Lease Termination Agreement

A Canadian-law governed agreement that formally terminates a commercial truck lease, settling all obligations between lessor and lessee.

find out more

Tenant Early Lease Termination Letter

A formal notice document used in Canadian jurisdictions by tenants to legally terminate their lease agreement before the end of the term.

find out more

Termination Release Agreement

A Canadian legal agreement that documents employment termination terms, including severance payments and mutual releases, ensuring compliance with federal and provincial employment laws.

find out more

Shareholder Exit Agreement

A Canadian-law governed agreement detailing the terms and process for a shareholder's exit from company ownership, including share transfer, valuation, and post-exit obligations.

find out more

Owner Operator Lease Termination Agreement

A Canadian-law governed agreement that terminates a lease arrangement between a company and an owner-operator, establishing terms for equipment return and final settlements.

find out more

Office Lease Termination Letter

A formal notice document used in Canadian jurisdictions to terminate a commercial office lease agreement, complying with federal and provincial commercial tenancy laws.

find out more

Contract Termination Acceptance Letter

A formal Canadian legal document acknowledging and accepting the termination of an existing contract, outlining final obligations and effective termination date.

find out more

Breaking A Joint Lease Agreement

A Canadian legal document for terminating individual participation in a joint lease agreement while establishing rights and obligations of all involved parties under provincial law.

find out more

Terminate Buyer Broker Agreement

A Canadian legal document that formally terminates a Buyer Broker Agreement between a brokerage firm and property buyer, ensuring compliance with provincial real estate regulations.

find out more

Ending Rental Agreement Early

A Canadian-compliant agreement for early termination of a rental lease, outlining terms, conditions, and obligations for both landlord and tenant.

find out more

Tenancy Contract Cancellation

A Canadian-compliant agreement for formally terminating a tenancy relationship between landlord and tenant, addressing key termination provisions under provincial law.

find out more

Landlord Terminate Month To Month Lease

A formal notice compliant with Canadian provincial laws for landlords to terminate a month-to-month lease agreement.

find out more

Rental Contract Cancellation

A Canadian legal document for terminating a rental agreement between landlord and tenant, compliant with provincial tenancy laws.

find out more

Termination Letter To An Employee

A legally compliant Canadian employment termination notice that formally ends an employment relationship, outlining termination terms and final arrangements.

find out more

Farm Lease Termination Letter

A formal notice under Canadian law to terminate a farm lease agreement, specifying termination details and compliance with provincial agricultural tenancy requirements.

find out more

Lease Termination Agreement Trucking

A Canadian-law governed agreement for terminating commercial vehicle or trucking equipment leases, ensuring compliance with federal and provincial transportation regulations.

find out more

Termination Of Farm Lease Agreement

A Canadian legal document that terminates a farm lease agreement between landlord and tenant, ensuring compliance with federal and provincial agricultural regulations.

find out more

Release And Cancellation Of Contract

A Canadian-law compliant agreement that terminates an existing contract and releases all parties from their contractual obligations.

find out more

Non Disparagement Agreement After Termination

A Canadian legal agreement preventing parties from making detrimental statements about each other after employment termination, while complying with federal and provincial laws.

find out more

Offer To Purchase Cancellation Letter

A formal letter used in Canadian real estate transactions to cancel a previously submitted Offer to Purchase, complying with provincial real estate regulations.

find out more
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it