|Provider Name:||Mckissock, Llc|
|Address:||218 Liberty Street Warren, PA 16365|
|Phone Number:||(800) 328-2008|
2019 Mandatory - LREC Updates & Addenda
In this course, we will discuss the updates made to the Purchase Agreement. We will examine the updates made in 2017 as well as 2018, all of which are incorporated into the current Purchase Agreement. These changes are reflected in the document that became mandatory on January 1, 2019. The newly revised Purchase Agreement is included in your manual and may also be found here: https://lrec.gov/forms/mandatory-forms/ We will also examine in-depth the sections on Financing, Curative work, and Inspections. We will explore what is customary, what is required, and what actions may incur liability on the part of the Licensee. In conjunction with the examination of the Purchase Agreement, we will refer to and analyze the addenda, both mandatory and suggested, that may be used when filling out a Purchase Agreement. As a general rule, these addenda will be attached to the Purchase Agreement anytime the proposed transaction extends beyond the set parameters of the Purchase Agreement. For example, we will discuss matters that are not a part of the printed form and that should be articulated in the section entitled “Additional Terms and Conditions” found at lines 301-307 of the Purchase Agreement. A Licensee should strive to err on the side of overinclusion when filling out the Purchase Agreement. Finally, we will examine the new features associated with the updated MyLREC portal. For ease of comprehension, we will capitalize the words “Buyer,” “Seller,” “Property,” “Licensee,” and “Deposit.” References to gender are interchangeable.
5.0 out of 5 stars