My agent has now put this in: RENTAL ITEMS (Including Lease, Lease to Own): The following equipment is rented and not

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Customer: My agent has now put this in:RENTAL ITEMS (Including Lease, Lease to Own): The following equipment is rented and not included in the Purchase Price. The Buyer agrees
to assume the rental contract(s), if assumable:
- Furnace, hot water, air conditioning
The Buyer agrees to co-operate and execute such documentation as may be required to facilitate such assumption.And then in Schedule A:
The seller understands and agrees that the Buyers will not be assuming the lease, rental or
service agreements for the following items:
1. Furnace
2. Central Air conditioning
3. Hot water tank
These items shall be included in the purchase price of the property and free and clear of any
liens or encumbrances. The seller agrees to purchase or buy out in full, any rental, lease or
service agreements on said items, at the Seller’s own expense, on or before closing.
Answered by ToLawyer in 2 mins 1 year ago
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Customer
It seems that the rental items section should be blank. The agent says it has to stay because we are asking the seller to leave the equipment. Is this right?
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ToLawyer, Expert

The rental section should be blank....there should be a fixture section in the OREA forms... that's where the those items should be put in.

It does not make sense to put those items in the rental section because the OREA forms specifically says that the buyer will be assuming those leases.

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ToLawyer, Expert

Sorry, if I recall correctly you are in Ontario right?

Customer
My agent is kinda arguing about this. What's the risk of leaving as is? Would schedule A supersede this rental section?
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ToLawyer, Expert

That is a risky move, that is a contradictory clause. I guess you should explain it away in schedule A by saying that "the statement in the APS is solely for the purpose of identifying the rental item and does not in anyway imply that the buyer will be assuming it."

Customer
Agreed. There is no fixture section on the OREA agreement version that the agent has provided. Even if the furnace/water/AC aren't listed in a fixture section, they would automatically be included right? Fixtures are part of the house...
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ToLawyer, Expert

Section 4 chattels - you can include it there.

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ToLawyer, Expert

This is OREA form 100 right?

Customer
Hi
Customer
Thank you!! Good night.
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ToLawyer, Expert

You are very welcome.

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