The Apartment Purchase Agreement is a fundamental legal document used in England and Wales when transferring ownership of an apartment from seller to buyer. This contract type is essential for protecting both parties' interests and ensuring legal compliance with property transfer regulations. It includes crucial details such as property description, purchase price, completion date, warranties, and specific terms relating to leasehold or freehold status. The agreement must comply with the Law of Property Act 1925 and other relevant property legislation, making it a vital document for establishing clear legal obligations and rights in property transactions.
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1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the sale and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold, including boundaries and fixtures
5. Purchase Price: Amount and payment terms including deposit arrangements
6. Completion: Terms and timing of completion, including conditions precedent
7. Title and Registration: Title guarantees and registration requirements at Land Registry
8. Seller's Warranties: Standard warranties about the property condition and legal status
1. Leasehold Provisions: Terms specific to leasehold properties including service charges and ground rent obligations
2. Mortgage Provisions: Terms relating to mortgage financing and lender requirements
3. New Build Provisions: Specific terms for new build properties including warranties and defect periods
4. Chain Provisions: Terms relating to property chain dependencies and related conditions
1. Property Schedule: Detailed property specification and included fixtures/fittings
2. Title Documents: Copies of relevant title documents and Land Registry entries
3. Property Information Form: Standard property information form (TA6) provided by seller
4. Lease Schedule: Copy of lease and related documents for leasehold properties
5. Plans and Drawings: Property plans, boundary details, and any relevant architectural drawings
Relevant legal definitions
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