Other

TXR 1419 — Commercial Listing Agreement Termination

This form provides a structured way for the owner (seller, landlord, or sublease tenant) and broker to mutually terminate a commercial listing agreement. It addresses termination fees, protection period replacement terms, and releases both parties from future obligations under the original listing.

Source: TXR
Form Number: 1419
Category: Other
Revised: July 8, 2022

Used For

Commercial Sales, COMMERCIAL_LEASING

Form Outline

The TXR 1419 form is organized into the following sections:

  1. Concerning the Property / A. Definitions
    "COMMERCIAL LISTING TERMINATION BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE PROPERTY LOCATED AT ___". A. Definitions: "Owner" means the seller or landlord of the above-referenced Property; "Listing" means the above-referenced commercial listing agreement. In the event the Listing engages Broker to sublease the Property, then "Owner" means the tenant under an existing lease (Master Lease) of the Property.
  2. B. Representation
    Owner represents that there are currently no negotiations pending or contemplated with anyone for the sale, lease, sublease, or exchange of the Property. No blanks.
  3. C. Termination Date
    The parties terminate the Listing at 11:59 p.m. on ___.
  4. D. Termination Fees
    (1) Upon execution, Owner pays Broker a fee for services rendered through the termination date. (2) If Owner agrees to sell, lease, or sublease the Property on or before the protection deadline, Owner pays Broker a fee of (check all that apply): (a) % of the sales price, (b) % of the gross rent, (c) other. (3) The D(2) fees are not payable if Owner agrees to sell, lease, or sublease to the named excluded parties. (4) If Owner is a tenant under a Master Lease and the Master Lease is terminated or assigned, Owner pays Broker a fee of (check all that apply): (a) % of all base rents Owner would have paid over the remaining term (or the assigned portion) and the same percentage of the checked items, (b) other.
  5. E. Documents / F. Release
    E. Broker may obtain any documents concerning the sale, lease, sublease, assignment, or termination from any party to the transaction. F. Except for the promises and representation in this document, Owner and Broker release each other from all obligations under or related to the Listing (including the protection period clause, which will no longer apply). No blanks.
  6. Execution by Owner and Broker
    Page 2. Owner (name, two lines) with two signatory blocks — "By:", "By (signature):", "Printed Name:", "Title:" and "Date:". Broker / Company Name (two lines) and License No., then the signatory's "By (signature):", "Printed Name:", "Title:", "License No." and "Date:". Signature lines and the "Date" beside them are e-sign tabs placed when the document is sent.

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