As of 2023, TREC's Farm and Ranch Contract explicitly states that it is not for use in what type of transactions?

The Farm and Ranch Contract developed by the Texas Real Estate Commission (TREC) is specifically tailored to facilitate transactions involving agricultural properties, such as farms and ranches. The contract outlines terms and conditions that are relevant to the unique characteristics of these types of properties, including considerations for land use, water rights, and other agricultural issues.

Transactions categorized as "complex" typically involve intricate arrangements or unique variables that demand specialized contracts or negotiations beyond what the Farm and Ranch Contract is designed to address. While complex transactions may indeed require nuanced agreements, the explicit exclusions set forth within TREC’s guidelines for this particular contract more directly classify it as unsuitable for commercial, residential, or governmental transactions.

The Farm and Ranch Contract is not intended for residential properties because residential real estate transactions require different provisions that address the rights and obligations of parties involved in typical home purchases, which can vary significantly from those in agricultural dealings.

In summary, the Farm and Ranch Contract is intended solely for agricultural transactions, thus excluding it from use in complex transactions, which may include varied factors and complexities that require a different contractual approach.