Addendum means any item or additional thing/material that is added to end of any publication, document, agreement, or even book. It also has a context in the field of engineering.
Addendum means any addition. This could be to a book, periodical, agreement, document, or publication. It also means the radial distance from a worm/cog-wheel’s pitch circle to the ridge/teeth crest in the engineering sector. An addendum also means a supplement for something.
An addendum in the real estate sector changes/modifies the original sale/purchase or lease agreement. The addendum may have several items which indicate changes in terms and conditions, pricing, and other aspects, which may be legally included in the property transfer/lease contract. It may also include the amenities, improvements, requests, and duties, as per the requirements of the two parties. The document will contain any extra details, requests, or aspects, which were not included in the original agreement by the developer, buyer, seller, renter, or landlord. The addendum may be legally valid, doing away with the original terms and conditions within the agreement. Addendums are sometimes recommended by real estate professionals as a better solution than striking out or removing any sentences, words, and terms in the contract.
