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Contract For Sale Of House And Land
"I need a Contract for Sale of House and Land for a luxury residential property in Mumbai, India, with completion scheduled for March 2025, including specific provisions for existing tenant rights and solar panel installations."
1. Parties: Identifies and provides full details of the seller and purchaser, including names, addresses, and contact information
2. Background: Outlines the context of the sale, confirming the seller's ownership and intention to sell, and the buyer's intention to purchase
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Details: Comprehensive description of the property including exact address, boundaries, measurements, and unique identifiers
5. Purchase Price: States the agreed purchase price and payment terms, including deposit and balance payment schedule
6. Payment Terms: Details the method and timing of payments, including deposit, installments if any, and final payment
7. Title and Ownership: Seller's warranties regarding clear title, encumbrances, and right to sell the property
8. Seller's Representations and Warranties: Statements and guarantees about the property's condition, legal status, and compliance with laws
9. Purchaser's Representations and Warranties: Confirmations regarding the purchaser's capacity and authority to enter into the agreement
10. Conditions Precedent: Conditions that must be satisfied before completion of the sale
11. Completion: Details of the completion process, including timing, location, and requirements
12. Transfer of Possession: Terms regarding handover of physical possession and associated procedures
13. Registration and Transfer Costs: Allocation of expenses related to registration, stamp duty, and other transfer costs
14. Default and Remedies: Consequences of default by either party and available remedies
15. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction for disputes
16. Notices: Process for serving formal notices between parties
17. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability
1. Mortgage Details: Required when the property has an existing mortgage that needs to be discharged
2. Tenant Rights: Needed when the property is currently tenanted, addressing existing tenancy agreements
3. Property Management: Relevant for properties in housing societies or with shared facilities
4. Development Rights: Important when the property has unused development potential or TDR
5. Environmental Matters: Required when there are environmental concerns or compliance requirements
6. Power of Attorney: Needed when either party is acting through an authorized representative
7. Joint Ownership Provisions: Required when the property is being purchased by multiple buyers
8. Agricultural Land Provisions: Necessary when the property includes agricultural land subject to special regulations
1. Schedule A - Property Description: Detailed technical description of the property including measurements, boundaries, and survey numbers
2. Schedule B - Title Documents: List of all title documents and chain of title for the property
3. Schedule C - Encumbrances: Details of any existing encumbrances, liens, or charges on the property
4. Schedule D - Fixtures and Fittings: Inventory of fixtures and fittings included in the sale
5. Schedule E - Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Schedule F - Required Approvals: List of necessary governmental and regulatory approvals
7. Appendix 1 - Property Plans: Architectural plans, site maps, and layout drawings
8. Appendix 2 - Photographs: Recent photographs of the property and its major features
9. Appendix 3 - Compliance Certificates: Copies of relevant compliance certificates and permits
Authors
Real Estate
Legal Services
Banking and Finance
Insurance
Construction
Property Development
Urban Planning
Residential Property
Commercial Property
Legal
Real Estate
Property Management
Compliance
Documentation
Finance
Risk Management
Operations
Business Development
Customer Relations
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Conveyancing Manager
Property Developer
Title Insurance Officer
Compliance Officer
Real Estate Transaction Manager
Property Documentation Specialist
Real Estate Partner (Law Firm)
Property Valuation Expert
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