The contract of sale of real property located in _________ County, _________[state], and described as: _________[set forth legal description], which contract was executed on _________[date] by the undersigned as seller and purchaser, respectively, is hereby by mutual agreement of the parties, rescinded and terminated.
Seller waives and releases all right and claim against purchaser, and purchaser waives and releases all right against seller and all right, title, and interest in the described real property.
The deposit previously made by purchaser shall be _________[returned in its entirety to purchaser or retained by seller or as the case may be].
The escrow costs and charges incurred to date shall be _________[borne and paid equally by the parties or as the case may be].
Executed in duplicate at _________[designate place of execution] on _________[date].