A Texas sales agent is working in a transaction where the buyer's lender requires a specific addendum not included in the TREC promulgated addenda. The lender's addendum was prepared by the lender's legal department. May the sales agent use the lender's addendum?
Correct Answer
C) Yes, because the lender's addendum prepared by its legal department qualifies as attorney-drafted
A lender's addendum prepared by its legal department qualifies under the attorney-drafted exception. When a party to the transaction (or a required third party like a lender) requires the use of a document prepared by its attorneys, the license holder may use it alongside the TREC promulgated contract.
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All of the following are valid exceptions to the mandatory use of TREC promulgated contract forms EXCEPT:
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