BIC TIP #1332: Terminated: The 350 vs. the 390
Terminated! When a contract needs to end, choosing the right form matters. The 350 and the 390 do two different jobs.
The Difference
- The 350 is a unilateral termination form. It does not require the seller’s signature.
- The 390 is a mutual agreement. Both parties sign and agree on the terms of the termination.
Why It Matters
Using the wrong form can leave confusion about whether the contract is really over and what happens to the money being held. Each form fits a different situation, so read the contract and the facts before you pick one.
The Practical Takeaway
Unilateral? Think 350. Mutual agreement on the terms? Think 390. When you are not sure which one applies, ask your BIC before anything gets sent, and get a real estate attorney involved when it is unclear.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
