Document background
The Memorandum of Contract is a crucial document in English and Welsh property law, used when parties need to formally record the existence and essential terms of a property contract. It's particularly important for protecting interests in land and complying with registration requirements. The document typically includes details of the parties, property description, purchase price, and any special conditions. It's commonly used in situations where the full contract needs to be summarized for registration purposes or where evidence of the agreement needs to be provided to third parties.
