Business Lawyers Blog
The escape clause is a clause, term, or condition in a real estate contract allowing one party to the contract to avoid performing their duties in relation to the contract. Escape clauses can offer both buyers and sellers of homes to exercise legal rights but can also be subject to abuse, so it is important to work with experienced Austin, TX real estate attorneys when you are in the process of buying or selling a home in Texas.
When an agreement is created for the sale of a house, a buyer might include an escape clause to allow themselves the opportunity to escape from the contract without being liable for breach of contract. Similarly, a seller might include an escape clause to allow them to accept a better offer for a home.