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OKLAHOMA REAL ESTATE COMMISSION RELEASE OF CONTRACT AND DISBURSEMENT OF EARNEST MONEY In consideration of the mutual release of all Parties to the Contract of Sale of Real Estate between the undersigned

How to fill out release of contract and

How to fill out a release of contract and:

1. Start by gathering all relevant information and documents related to the contract and for which you need to create a release. This may include the original contract, any amendments or addendums, and any other supporting documents.
2. Begin the release by clearly stating the names of the parties involved in the original contract. Include their full legal names and any applicable business or organizational names.
3. Provide a brief background or summary of the original contract, explaining the purpose and context of the agreement being released. This will help ensure clarity and understanding for all parties involved.
4. Specify the exact terms and conditions being released from the original contract. This could involve releasing the other party from certain obligations, liabilities, or responsibilities outlined in the original agreement.
5. Clearly state the reasons for the release, whether it's due to the completion of the contract, a mutual decision, or any other relevant factors. Providing an explanation can help avoid any potential confusion or misunderstandings.
6. Include a section for both parties to sign and date the release. Make sure to include their full legal names, titles, and contact information beneath their signatures. If there are additional witnesses or notaries required, provide space for their signatures as well.

Who needs a release of contract and:

1. Individuals or businesses who have entered into a contract with another party and wish to terminate or release certain terms or obligations from that agreement.
2. Parties who have successfully fulfilled their contractual obligations and wish to finalize and formalize the release of any remaining responsibilities or liabilities.
3. Situations where both parties have mutually agreed to release certain terms or obligations due to changes in circumstances, business needs, or any other valid reasons.

Please note that it is always advisable to consult with a legal professional or contract attorney before creating or signing a release of contract, especially if the original contract involved significant obligations or if there are any uncertainties or disputes between the parties involved.

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