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Previously asked questions and answers:

I'm buying a building. Is there a way I can word the contract so that I can gain rights to any refunds that may be due from utility bill accounts?

Depending upon the utility company or the particular issue, you may be able to recoup funds due. When you PURCHASE a building, you might wish to include language in the contract that may enable you to obtain rights to the historical utility accounts. Possible language could read:

Seller hereby sells, transfers, and conveys to Purchaser, any and all rights to refunds, credits, allowances or adjustments relating to property taxes, water, sewer, electric, gas, steam, and oil, or other utility payments made for or on behalf of [insert description of the real estate being transferred], of whatever kind and nature. Seller also agrees to sign, and to fully cooperate in supporting, any assignment of right to refund or other legal form(s) required to assign such rights to Purchaser.

You should also protect your interests if you are SELLING a property by including language in the contract that would enable you to retain your rights to the historical utility accounts. Possible language could read:

Seller hereby retains any and all rights to refunds, credits, allowances or adjustments relating to property taxes, water, sewer, electric, gas, steam, and oil, or other utility payments made for or on behalf of [insert description of the real estate being transferred], of whatever kind and nature. Buyer also agrees to sign, and to fully cooperate in supporting, any assignment of right to refund or other legal form(s) required to confirm that Seller has retained such rights.
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