Notice

TXR 1950 — Notice of Seller's Termination of Contract

Provides the seller with a promulgated form to formally notify the buyer that the contract is terminated. The form identifies the specific contractual basis for termination -- either buyer's failure to deliver earnest money under Paragraph 5 or another contract or addendum provision. It preserves th

Source: TXR
Form Number: 1950
Category: Notice
Revised: August 13, 2018

Used For

Residential Sales, Farm & Ranch, Vacant Land

Form Outline

The TXR 1950 form is organized into the following sections:

  1. Property and Party Identification
    Identifies the property address and the buyer to link this termination notice to the specific contract being terminated.
  2. Basis for Termination
    Provides two checkboxes for specifying the contractual basis for termination. Option 1 covers earnest money default under Paragraph 5, and Option 2 covers any other contract or addendum provision that grants seller a termination right.
  3. Legal Notices and Disclaimers
    Contains two critical legal disclaimers. First, the notice preserves all of seller's remedies rather than constituting an election. Second, it warns parties to consult an attorney since license holders cannot provide legal advice.
  4. Seller Signatures and Dates
    Provides signature lines for up to two sellers with corresponding date fields. All sellers on the contract must sign the termination notice.

How RaiderX Agents Use This Form

When you upload a signed TXR 1950 to a deal in RaiderX's Deal Manager, it reads the form's key dates and terms and automatically builds out your deadlines, contingencies, and tasks — so nothing slips through the cracks between contract and closing. Forms with a fill map also support e-signature directly inside RaiderX, so you can send this document for signature without leaving the platform.

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