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Purchase Agreement For Commercial Property
"I need a Purchase Agreement for Commercial Property under Irish law for buying a multi-tenant office building in Dublin, which needs to include specific provisions for existing tenancies and service contracts that will transfer with the property, with completion planned for March 2025."
1. Parties: Identifies and defines the Vendor and Purchaser 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: Terms regarding the payment and handling of the deposit
6. Title: Vendor's obligations regarding proof of title and purchaser's rights to raise requisitions
7. Conditions Precedent: Conditions that must be satisfied before completion can occur
8. Vendor's Warranties: Warranties regarding the property's condition, title, and other material aspects
9. Planning and Development: Warranties and conditions relating to planning permissions and compliance
10. Completion: Procedures and requirements for completing the sale
11. Risk and Insurance: Provisions regarding property risk before completion and insurance requirements
12. Notices: Process for serving formal notices between parties
13. Value Added Tax: VAT treatment of the transaction
14. Entire Agreement: Confirmation that the agreement represents the entire understanding between parties
15. Governing Law and Jurisdiction: Confirms Irish law governs the agreement and Irish courts have jurisdiction
1. Environmental Matters: Required when the property has potential environmental issues or requires specific environmental warranties
2. Existing Tenancies: Needed when the property is sold subject to existing leases or tenancy agreements
3. Service Contracts: Required when there are ongoing service contracts that will transfer with the property
4. Employee Matters: Necessary when the sale involves Transfer of Undertakings (TUPE) implications
5. Tax Indemnities: Required for complex transactions with specific tax implications
6. Break Conditions: Included when either party requires specific break rights before completion
7. Development Rights: Required when the property has ongoing or potential development opportunities
8. Contamination Provisions: Needed for properties with known or potential contamination issues
1. Property Description: Detailed description of the property including maps, plans and boundaries
2. Title Documents: List of all title documents and evidence of title
3. Planning Permissions: Details of all relevant planning permissions and applications
4. Tenant Schedule: Details of all existing tenancies and lease terms
5. Service Contracts Schedule: List and details of all transferring service contracts
6. Plant and Equipment: Inventory of included plant, machinery and equipment
7. Environmental Reports: Copies or summaries of environmental surveys and reports
8. VAT Information: Detailed VAT calculations and elections
9. Property Searches: Results of local authority and other relevant searches
10. Building Certificates: Copies of building certificates, fire safety certificates and other compliance documents
Authors
Real Estate
Retail
Manufacturing
Healthcare
Hospitality
Financial Services
Technology
Education
Professional Services
Logistics and Warehousing
Industrial
Agriculture
Entertainment and Leisure
Energy
Legal
Real Estate
Finance
Operations
Facilities Management
Risk and Compliance
Corporate Development
Property Management
Asset Management
Investment
Tax
Real Estate Director
Commercial Property Manager
Chief Financial Officer
Property Lawyer
Legal Counsel
Facilities Manager
Property Development Manager
Investment Director
Asset Manager
Commercial Director
Risk Manager
Company Secretary
Operations Director
Business Development Manager
Property Portfolio Manager
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