How do I count contract days?
07/01/2014 | Author: TAR Legal Staff
I’m under contract on a property with a 10-day option period beginning on July 1. My agent says my termination option expires July 11. I think it expires July 12 because the Fourth of July, as a federal holiday, doesn’t count. Who is correct?
Your agent is right. The days referred to in Texas Real Estate Commission (TREC) contracts are calendar days. That means all days, including weekend days and holidays, are counted when calculating deadlines.
Have a question about buying, selling, or leasing property in Texas? Ask us. Not all submitted questions can be answered.
Can an offer contract use the words “10 business days” in the Option Period clause? Is this permissible to override the calendar day definition as used by TREC?
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