The Vacant Land Purchase And Sale Agreement is essential for transactions involving undeveloped property in England and Wales. It's commonly used when raw land is being transferred between parties, whether for development, investment, or agricultural purposes. The agreement must comply with specific requirements under English and Welsh property law, including the Law of Property Act 1925 and Land Registration Act 2002. It typically includes detailed property descriptions, planning considerations, environmental provisions, and can incorporate conditions regarding future development or use of the land.
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1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the transaction and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the land including boundaries and rights
5. Purchase Price: Amount and payment terms
6. Completion: Timing and requirements for completion
7. Title: Title warranties and requirements
8. Seller's Covenants: Seller's warranties and obligations
1. Planning Conditions: Used when sale is conditional on obtaining planning permission - applicable when buyer requires specific planning permission
2. Environmental Matters: Specific provisions regarding environmental issues - applicable when there are known environmental concerns
3. Development Obligations: Specific requirements for development of the land - applicable when seller wants to control future development
4. Overage Provisions: Additional payments based on future events - applicable when seller wants to share in future value increases
1. Plan: Land Registry compliant plan showing the property
2. Title Documents: Copies of relevant title documents
3. Planning Documents: Relevant planning permissions and documents
4. Environmental Reports: Any environmental surveys or reports
5. Rights and Reservations: Details of rights granted and reserved
Relevant legal definitions
Clauses
Relevant Industries
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