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Buy Sale Agreement for Ireland

Buy Sale Agreement Template for Ireland

A Buy Sale Agreement under Irish law is a legally binding contract that documents the terms and conditions for the transfer of property ownership from a seller to a buyer. This comprehensive agreement, governed by Irish property law and specifically the Land and Conveyancing Law Reform Act 2009, outlines crucial elements including the purchase price, property details, warranties, completion requirements, and specific conditions of sale. It serves as the primary document in property transactions, incorporating necessary provisions for compliance with Irish property legislation, tax requirements, and registration procedures.

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What is a Buy Sale Agreement?

The Buy Sale Agreement is the cornerstone document in Irish property transactions, used whenever real estate is being transferred between parties. This agreement, essential under Irish law, comprehensively details all aspects of the property sale, including precise property descriptions, purchase terms, warranties, and completion requirements. It must comply with the Land and Conveyancing Law Reform Act 2009 and other relevant Irish legislation, making it suitable for both residential and commercial property transactions. The document serves multiple purposes: it protects both parties' interests, ensures legal compliance, facilitates property registration, and provides clarity on all aspects of the transaction. The agreement is typically prepared by legal professionals and can be customized to address specific requirements of different property types, from residential homes to commercial establishments.

What sections should be included in a Buy Sale Agreement?

1. Parties: Identifies and defines the Seller and Buyer with full legal names and addresses

2. Background: Recitals explaining the context of the sale and basic information about the property

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price

5. Deposit: Details of the deposit amount, payment terms, and conditions for retention or return

6. Title: Seller's confirmation of good marketable title and requirements for proving title

7. Completion: Timing and procedures for completing the sale, including completion date and requirements

8. Risk and Insurance: Allocation of risk and insurance responsibilities before completion

9. Seller's Warranties: Standard warranties about the property's condition, title, and disclosed information

10. Buyer's Warranties: Confirmations from the buyer regarding capacity and funds

11. Conditions Precedent: Conditions that must be satisfied before completion can occur

12. Default: Consequences of default by either party and available remedies

13. Notices: How formal notices under the agreement must be given

14. Entire Agreement: Confirmation that the agreement represents the entire understanding between parties

15. Governing Law: Confirmation that Irish law governs the agreement

16. Execution: Signature blocks and execution formalities

What sections are optional to include in a Buy Sale Agreement?

1. VAT: Required when the property sale is subject to VAT or when the seller is VAT-registered

2. Planning Compliance: Detailed section needed for properties with recent construction or modifications

3. Management Company: Required for apartments or properties in managed developments

4. Tenant Provisions: Required when the property is sold subject to existing tenancies

5. Environmental Matters: Required for industrial properties or properties with potential environmental issues

6. Service Contracts: Required when ongoing service contracts are being transferred with the property

7. Development Rights: Required when the property has unused development potential or planning permissions

8. Intellectual Property: Required when the sale includes business premises with associated intellectual property

9. Employee Matters: Required when the sale includes business premises with transferring employees

What schedules should be included in a Buy Sale Agreement?

1. Schedule 1 - Property Description: Detailed legal description of the property including folio numbers and maps

2. Schedule 2 - Purchase Price and Payment Terms: Detailed breakdown of the purchase price and payment schedule

3. Schedule 3 - Title Documents: List of title documents and evidence of title to be provided

4. Schedule 4 - Disclosed Matters: List of matters disclosed by the seller that affect the warranties

5. Schedule 5 - Completion Requirements: Detailed list of documents required for completion

6. Appendix 1 - Property Plans: Maps, floor plans, and other visual representations of the property

7. Appendix 2 - Planning Documents: Copies of relevant planning permissions and certificates

8. Appendix 3 - Building Certificates: Relevant building certificates and compliance documentation

9. Appendix 4 - Property Searches: Results of property searches and enquiries

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Contract to Sell

Cost

Free to use
Relevant legal definitions

















































Clauses








































Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Industrial

Hospitality

Healthcare

Education

Agriculture

Technology

Manufacturing

Professional Services

Relevant Teams

Legal

Real Estate

Facilities

Operations

Finance

Compliance

Risk Management

Business Development

Property Management

Asset Management

Investment

Corporate Services

Relevant Roles

Legal Counsel

Property Lawyer

Real Estate Manager

Conveyancing Solicitor

Property Director

Facilities Manager

Commercial Director

Investment Manager

Property Developer

Asset Manager

Compliance Officer

Risk Manager

Business Development Manager

Operations Director

Finance Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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