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Shop Selling Agreement
"I need a Shop Selling Agreement for my retail property in Mumbai, with completion scheduled for March 2025, including standard warranties and representations for a cash transaction valued at ₹2.5 crores."
1. Parties: Details of the seller and purchaser, including names, addresses, and registration details if companies
2. Background: Context of the sale, brief description of the property, and intention of the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the shop premises, including exact measurements and boundaries
5. Sale Consideration: Purchase price, payment terms, and schedule of payments
6. Seller's Representations and Warranties: Declarations regarding title, encumbrances, legal compliance, and authority to sell
7. Purchaser's Representations and Warranties: Declarations regarding authority to purchase and financial capability
8. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
9. Completion: Process and timeline for completing the sale transaction
10. Possession: Terms and process for transferring possession of the property
11. Expenses and Taxes: Allocation of transaction costs, stamp duty, and other taxes
12. Indemnification: Mutual indemnification clauses for breach of representations
13. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction
14. Notices: Process and addresses for serving notices under the agreement
15. Execution: Signature blocks and witness details
1. Existing Tenancy: Required if the property is currently leased to tenants
2. Mortgage Details: Required if the property has any existing mortgage or charge
3. Business Assets: Required if the sale includes business assets, inventory, or goodwill
4. Employee Transfer: Required if existing employees are to be retained by the purchaser
5. Environmental Compliance: Required for properties in industrial areas or with specific environmental concerns
6. Intellectual Property: Required if the sale includes trading names, trademarks, or other IP
7. Due Diligence: Required for complex transactions involving detailed property investigation
8. Force Majeure: Optional clause for unforeseen circumstances affecting completion
9. Dispute Resolution: Optional detailed arbitration or mediation procedures
1. Schedule 1 - Property Description: Detailed property description including floor plans and boundaries
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timelines
3. Schedule 3 - Title Documents: List of title documents and chain of title
4. Schedule 4 - Encumbrances: Details of any existing charges, mortgages, or liens
5. Schedule 5 - Inventory: List of fixtures, fittings, and equipment included in the sale
6. Schedule 6 - Compliance Certificates: Copies of necessary permits, licenses, and certificates
7. Appendix A - Property Photos: Recent photographs of the property
8. Appendix B - Due Diligence Report: Summary of property investigation findings
Authors
Retail
Commercial Real Estate
Real Estate Development
Property Management
Banking and Finance
Legal Services
Small Business
Franchise
Shopping Centers
Commercial Property Investment
Legal
Real Estate
Commercial
Finance
Compliance
Operations
Business Development
Property Management
Facilities Management
Risk Management
Real Estate Lawyer
Property Manager
Commercial Director
Business Owner
Real Estate Agent
Legal Counsel
Compliance Officer
Property Developer
Commercial Property Consultant
Retail Operations Manager
Business Development Manager
Investment Manager
Company Secretary
Chief Financial Officer
Facilities Manager
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