Wednesday, December 31, 2008

Utah's New REPC Section 18

Utah's New REPC Section 18.  NOTICES


The new REPC spells out how to deliver paperwork in this section. Once you're under contract, here's how to deliver paperwork, addendums, and notices which are properly written, signed, and receipted.


This section also describes effective notice with new added Item C. Item C. states:  "received by the Buyer or the Seller, or their respective agent, or by the brokerage firm representing the Buyer or the Seller..."



The secretary at the front desk can now take delivery of a document.


The state made this provision available because the other side in a transaction sometimes cannot be Notice_1 located and a safety valve is needed where time clauses and deadlines are in force.


Needless to say all agents now need to develop a tight policy at the front desk for receiving documents.




Old REPC
Section 18:

18. NOTICES. Except as provided in Section 23, all notices required under this Contract must be: (a) in writing; (b) signed by the party giving notice; and (c) received by the other party or the other party's agent no later than the applicable date referenced in this Contract.





New REPC
Section 18:

18. NOTICES. Except as provided in Section 23, all notices required under the REPC must be: (a) in writing; (b) signed by the Buyer or Seller giving notice;  and (c) received by the Buyer or the Seller, or their respective agent, or by the brokerage firm representing the Buyer or Seller, no later than the applicable date referenced in the REPC.






I’m remarking on the new REPC changes as I see them. This isn't legal advice.


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Next up ...Section 19: No Assignment of REPC and Abrogation is gone...




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