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Conditional Land Sale Agreement
"I need a Conditional Land Sale Agreement for a 5-acre agricultural property in Gujarat, where the sale is contingent upon obtaining land-use conversion approval by March 2025, with a purchase price of 2.5 crores INR."
1. Parties: Identification and details of the seller and purchaser, including names, addresses, and legal capacity to contract
2. Background: Context of the transaction, including brief property history and reason for conditional sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the land being sold, including boundaries and measurements
5. Sale Consideration: Purchase price, payment terms, and schedule of payments
6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes final
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and legal status
8. Purchaser's Representations and Warranties: Declarations regarding financial capacity and compliance with laws
9. Completion Process: Steps for completing the sale once conditions are met
10. Default and Consequences: Actions and remedies in case of breach by either party
11. Time Period: Duration for fulfilling conditions and completing the sale
12. Notices: Method and addresses for serving notices between parties
13. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
14. General Provisions: Standard clauses including entire agreement, amendments, and severability
1. Development Conditions: Used when the sale is conditional upon obtaining development permissions or changes in land use
2. Environmental Compliance: Required when the property has environmental concerns or requires specific clearances
3. Third Party Rights: Included when there are existing tenants or other third-party interests in the property
4. Agricultural Land Conversion: Needed when dealing with agricultural land requiring conversion for non-agricultural use
5. Mortgage Release: Required when the property needs to be released from an existing mortgage
6. Power of Attorney: Included when any party is acting through an authorized representative
7. Force Majeure: Optional clause for unforeseen circumstances affecting contract performance
8. Dispute Resolution: Alternative dispute resolution mechanisms like arbitration or mediation
1. Schedule A - Property Details: Comprehensive property description including survey numbers, measurements, and boundaries
2. Schedule B - Title Documents: List of title documents and their details proving ownership
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
4. Schedule D - Encumbrances: List of existing encumbrances, if any, and their status
5. Schedule E - Conditions Checklist: Detailed list of conditions to be fulfilled and their status
6. Schedule F - Property Plans: Site plans, building plans, and other relevant drawings
7. Appendix 1 - Required Approvals: List of necessary governmental and regulatory approvals
8. Appendix 2 - Due Diligence Reports: Summary of legal and technical due diligence findings
Authors
Real Estate
Construction
Property Development
Agriculture
Industrial Development
Commercial Property
Residential Property
Infrastructure
Urban Planning
Hospitality
Legal
Real Estate
Finance
Compliance
Property Management
Business Development
Risk Management
Operations
Corporate Affairs
Investment
Real Estate Director
Property Manager
Legal Counsel
Chief Financial Officer
Land Acquisition Manager
Development Director
Compliance Officer
Project Manager
Real Estate Analyst
Corporate Lawyer
Property Developer
Investment Manager
Title Officer
Real Estate Agent
Construction Manager
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