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Understanding Expired D Contracts After Losing Your D Title

In summary, if you don't sign the contract your director status automatically terminates after three consecutive months of not meeting the requirements
vanscootin
Gold Member
594
After you lose your D title and return to a TL ... your D contract exprires? Yes or no?
 
I think you have 6 months.
 
Just so glad we don't lose our team when we lose D status like we used to. I keep having my 5 actives in one month. Just can't get 6 out of the group to submit in one month. I think it's 6 months for the contract. They'll let you know if you need to sign a new one :)
 
I think there is a section on it in the Policy & Guidelines....I know it talks about losing your title, how much time you have, etc. It might answer your questions.
 
  • Thread starter
  • #5
Bobbi... nothing in the policy guide... but I found my Director Contract... it says "this agreement automatically terminates without notice at the end of the third consecutive month the Director fails to meet the requirements...." Guess I coulda answered my own question if I dug a little. LOL
 
vanscootin said:
Bobbi... nothing in the policy guide... but I found my Director Contract... it says "this agreement automatically terminates without notice at the end of the third consecutive month the Director fails to meet the requirements...." Guess I coulda answered my own question if I dug a little. LOL

Yes, but it's so much easier to ask someone else!
 
So what is a Director contract?
 
  • Thread starter
  • #8
The contract you sign when you become a director that basically states what it says in the policy guide with a little extra legal mumbo jumbo... Like the non compete and disclosure stuff. Just an extension of the consultant agreement.
 
You can decline directorship by not signing the contract. Under the old system, some people declined to sign it if they weren't confident their team was strong enough to meet the requirements month-to-month and were afraid that if they didn't keep D status they would lose everyone and have to start over.
 
  • Thread starter
  • #10
That's an interesting concept. What would happen if you didn't sign it but had your team meet the requirements of director?
 
  • #11
vanscootin said:
That's an interesting concept. What would happen if you didn't sign it but had your team meet the requirements of director?

I am not sure if they do this now that the contract is not on paper anymore. I believe there is a clause in P3 that you are essentially renewing your director contract every time you submit a show. I am not positive about this though so it is worth looking into.
 

Related to Understanding Expired D Contracts After Losing Your D Title

What is a D Title?

A D Title is a type of contract that is used in real estate transactions, specifically for the sale of land or property. It stands for "Deed of Trust" and is a legal document that outlines the terms of the loan agreement between the borrower and the lender.

How do D Titles expire?

D Titles can expire if the borrower fails to make payments on their loan according to the terms outlined in the contract. This can also happen if the borrower sells the property or refinances the loan without properly transferring the D Title to the new owner or lender.

What happens to a D Title when it expires?

When a D Title expires, the lender may choose to initiate foreclosure proceedings to take possession of the property. This means the borrower will lose ownership of the property and the lender will have the right to sell it to recoup the remaining balance on the loan.

Can a D Title be renewed?

No, a D Title cannot be renewed. Once it has expired, the only way to regain ownership of the property is to pay off the remaining balance on the loan or negotiate a new loan agreement with the lender.

What should I do if I lose my D Title?

If you have lost your D Title, you should contact the lender or the title company that handled the transaction to request a duplicate copy. It is important to keep this document safe and secure, as it is proof of your ownership of the property.

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