What is a Real Estate License Agreement?
In real estate, it's all about location, and a Real Estate License Agreement can help you take advantage of a prime spot. If you're a property owner, you can earn extra income from your property without giving up ownership rights. Or, if you're throwing a fundraising gala and have found the perfect space, you can come to a fair agreement with a Real Estate License Agreement. Maybe you simply want to sell Douglas firs in a parking lot in December. You don't need the property forever-and besides, it's not for sale. That doesn't mean you can't use it if the owner agrees. It's a win-win situation for everyone. Getting a Real Estate License Agreement can help you seal the deal.
When to use a Real Estate License Agreement:
- You own property that you'll let someone else use.
- You want to use someone else's property.
- You're the manager of a company that owns a lot of prime real estate.
Real Estate License Agreement
This Real Estate License Agreement (this "Agreement") is made effective as of between , of , , and , of , , .
In the Agreement, the party who is granting the right to use the licensed property will be referred to as "", and the party who is receiving the right to use the licensed property will be referred to as "".
The parties agree as follows:
GRANT OF LICENSE. owns , , ("Licensed Property"). In accordance with this Agreement, grants an exclusive license to , the Licensed Property. may not use the Licensed Property for any other purpose or business without obtaining Licensor's prior written consent.
PAYMENT OF LICENSE FEE. will pay to a license fee which shall be calculated as follows: The license fee shall be paid week month quarter year
MODIFICATIONS. may not modify or change the Licensed Property in any manner.
DEFAULTS. If fails to abide by the obligations of this Agreement, including the obligation to make a license fee payment when due, shall have the option to cancel this Agreement by providing days written notice to .
INDEMNITY REGARDING USE OF PROPERTY. To the extent permitted by law, Licensee agrees to indemnify, hold harmless, and defend Licensor from and against any and all losses, claims, liabilities, and expenses, including reasonable attorney fees, if any, which Licensor may suffer or incur in connection with Licensee's possession, use or misuse of the Premises, except Licensor's act or negligence.
TRANSFER OF RIGHTS. This Agreement shall be binding on any successors of the parties.
TERMINATION. This Agreement shall terminate automatically on . On or before the termination date, Licensee shall remove all of Licensee's personal property from the Property and shall surrender possession of the Property to Licensor in good order and repair to the satisfaction of Licensor, normal wear and tear excepted.
ENTIRE AGREEMENT. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
AMENDMENT. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.
SEVERABILITY. If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
WAIVER OF CONTRACTUAL RIGHT. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
APPLICABLE LAW. This Agreement shall be governed by the laws of the State of .
SIGNATURES. This Agreement shall be signed by on behalf of and by on behalf of .