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TREC Form 12-3 Addendum for Release of Liability on Assumed Loan and / or Restoration of Seller's VA Entitlement - Texas
What Is TREC Form 12-3?
This is a legal form that was released by the Texas Real Estate Commission - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the TREC Form 12-3 Addendum?
A: The TREC Form 12-3 Addendum is a legal document used in Texas for the release of liability on an assumed loan and/or restoration of the seller's VA entitlement.
Q: What is the purpose of the TREC Form 12-3 Addendum?
A: The purpose of the TREC Form 12-3 Addendum is to document the agreement between the buyer and seller regarding the release of liability on an assumed loan and/or restoration of the seller's VA entitlement.
Q: What is an assumed loan?
A: An assumed loan is a mortgage loan that a buyer agrees to take over and be responsible for, often without obtaining a new loan.
Q: What is the seller's VA entitlement?
A: The seller's VA entitlement refers to the eligibility and benefits a seller has under the Veterans Affairs (VA) loan program.
Q: Who uses the TREC Form 12-3 Addendum?
A: The TREC Form 12-3 Addendum is used by real estate agents, buyers, and sellers in Texas when dealing with an assumed loan and/or the seller's VA entitlement.
Q: Is the TREC Form 12-3 Addendum specific to Texas?
A: Yes, the TREC Form 12-3 Addendum is specific to Texas as it is provided by the Texas Real Estate Commission (TREC).
Form Details:
- Released on December 5, 2011;
- The latest edition provided by the Texas Real Estate Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of TREC Form 12-3 by clicking the link below or browse more documents and templates provided by the Texas Real Estate Commission.
