The Purchase Agreement and Listing Contract forms were revised for 2014, and three new forms were added: Agreement Regarding Personal Property, Amendment to Lease Agreement, and Supplemental Indemnification Agreement. Several changes were made to existing lines of various forms for clarification or to comply with state law. All revised and new forms will be available for member use after January 1, 2014.

1. 2013 Residential Forms Changes

2. 2014 Residential Forms Changes
2013 Residential Forms Changes
The following 2014 Legal Forms were revised:
Purchase Agreement
Listing Contract
The following 2014 Legal Forms are new:
Agreement Regarding Personal Property
Amendment to Lease Agreement
Supplemental Indemnification Agreement

3. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 167
Rationale:
Deleted “immediately.” The relevant deadline is if the buyer complies
with the inspection timeline – not when the inspection is ordered.

4. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 193
Rationale:
Made bold to emphasize the definition of “Defect.”

5. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 81
Rationale:
Removed “lien” verbiage. No legal right to an automatic lien on the
property. Misleading as to Indiana law. A listing agent can still file a
claim for commission but they cannot file a lien.

6. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 96
Rationale:
Removes “Listing Profile Sheet” because most agents do not use it
and, if they do, do not have it completed at time of listing appointment
in order for Seller to say they have seen it.

7. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 191
Rationale:
Removed “multiple” to make consistent with Code of Ethics.

8. 2014 Residential Forms Changes
2013 Residential Forms Changes
Line 256
Rationale:
Add “DATE” after Broker Signature to include date Broker accepted
the listing contract.

9. 2014 Residential Forms Changes
2013 Residential Forms Changes
New Legal Form:
Supplemental
Indemnification
Agreement
*Not in ZipForms
Available under the Legal Library
section at www.indianarealtors.com
Purpose:
To protect members from liability when using a listing agreement other
than the IAR approved contract. This language is likely not contained
in an REO listing contract.

10. 2014 Residential Forms Changes
2013 Residential Forms Changes
New Legal Form:
Agreement Regarding
Personal Property

11. 2014 Residential Forms Changes
2013 Residential Forms Changes
New Legal Form:
Amendment To
Lease Agreement

12. 2014 Residential Forms Changes
2013 Residential Forms Changes
All changes to existing IAR forms and the
new forms will be available for member use
after January 1, 2014.
All copyright dates will
be changed to 2014.

13. 2014 Residential Forms Changes
2013 Residential Forms Changes
Special
thanks
must
be
extended
to
the
IAR
Forms
CommiBee.
This
volunteer
group
provides
many
hours
of
Eme
each
year
to
provide
the
most
current
updates
to
these
forms.
Ques%ons
on
these
changes
may
be
directed
to
the
IAR
Legal
Hotline.
The
IAR
Legal
Hotline
is
available
to
principal
and
managing
broker
members,
and
their
designated
agents,
statewide.
IAR
Legal
Hotline:
1.800.444.5472
toll
free
Indiana
1.317.913.3254
local
1.317.842.8494
fax
legalhotline@indianarealtors.com