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Commercial Real Estate Sales Agreement

Commercial Real Estate Sales Agreement Template for India

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Key Requirements PROMPT example:

Commercial Real Estate Sales Agreement

"I need a Commercial Real Estate Sales Agreement for the purchase of a 50,000 square foot office building in Mumbai's Bandra-Kurla Complex, with specific provisions for existing tenants and a phased completion schedule planned for March 2025."

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Document background
The Commercial Real Estate Sales Agreement is a crucial legal instrument used in India for transferring ownership of commercial properties between parties. It is essential when any business entity or individual wishes to purchase or sell commercial real estate, whether it's office space, retail property, industrial facilities, or other commercial establishments. The agreement must comply with various Indian legislations, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific property laws. It includes comprehensive details about the property, transaction terms, representations and warranties, completion procedures, and post-completion obligations. This document is particularly important as it serves as the primary evidence of the transaction and protects both parties' interests by clearly documenting all aspects of the sale.
Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including registration/incorporation details for companies

2. Background: Context of the transaction, including brief property history and purpose of the sale

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including address, dimensions, boundaries, and registration details

5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule

6. Conditions Precedent: Conditions that must be satisfied before completion of the sale

7. Seller's Representations and Warranties: Statements and guarantees by the seller regarding property title, encumbrances, and compliance

8. Buyer's Representations and Warranties: Statements and guarantees by the buyer regarding capacity and authority to purchase

9. Completion: Details of the completion process, including timing, location, and requirements

10. Post-Completion Obligations: Responsibilities of both parties after completion, including registration and handover

11. Default and Remedies: Consequences of breach and available remedies to either party

12. Notices: Process and requirements for serving notices under the agreement

13. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction

14. Execution: Formal signing section with witness requirements

Optional Sections

1. Due Diligence: Detailed process for buyer's investigation of property - include when buyer requires specific due diligence rights

2. Environmental Matters: Specific provisions regarding environmental compliance - include for industrial or potentially contaminated properties

3. Existing Tenancies: Details of current tenants and lease arrangements - include when property is sold with sitting tenants

4. Development Rights: Transfer of development rights or pending approvals - include when property has development potential

5. Foreign Investment Compliance: FEMA compliance provisions - include when foreign buyers are involved

6. GST Provisions: GST-related obligations - include for properties where GST is applicable

7. Property Management: Interim management arrangements - include when there's a gap between agreement and completion

8. Dispute Resolution: Detailed arbitration or mediation procedures - include when parties prefer alternative dispute resolution

Suggested Schedules

1. Property Schedule: Detailed property description, including floor plans and site maps

2. Title Documents: List of all title documents and chain of title

3. Encumbrances Schedule: Details of any existing mortgages, liens, or encumbrances

4. Payment Schedule: Detailed breakdown of payment terms and installments

5. Due Diligence Reports: Technical, legal, and environmental due diligence findings

6. Existing Contracts: List of service contracts, maintenance agreements, etc. that will be transferred

7. Completion Checklist: List of documents and actions required for completion

8. Property Permits: Copies of all relevant permits, licenses, and certificates

9. Outstanding Litigation: Details of any pending legal proceedings affecting the property

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions



































Clauses






























Relevant Industries

Real Estate

Banking & Financial Services

Legal Services

Construction & Development

Manufacturing

Retail

Hospitality

Healthcare

Technology

Industrial

Logistics & Warehousing

Education

Relevant Teams

Legal

Finance

Real Estate

Facilities Management

Business Development

Compliance

Risk Management

Corporate Affairs

Operations

Investment

Asset Management

Property Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Legal Director

Real Estate Manager

Property Manager

Facilities Director

Commercial Director

Investment Manager

Asset Manager

Business Development Manager

Finance Director

Corporate Lawyer

Real Estate Lawyer

Compliance Officer

Risk Manager

Property Acquisition Manager

Real Estate Development Manager

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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