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Agreement Of Sale And General Power Of Attorney
"I need an Agreement of Sale and General Power of Attorney for my residential property in Lahore, Pakistan, as I'm based overseas and want to authorize my brother to handle all aspects of selling my house to an interested buyer, including price negotiations and document processing."
1. Parties: Identifies and provides full details of the Seller and Buyer, including their legal names, addresses, and National ID numbers
2. Background: Explains the context of the agreement, including the Seller's ownership of the property and intention to sell and grant power of attorney
3. Definitions: Defines key terms used throughout the agreement, including Property, Purchase Price, Completion Date, and Power of Attorney
4. Sale Agreement: Details of the sale including property description, purchase price, payment terms, and completion timeline
5. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and authority to sell
6. Buyer's Representations and Warranties: Buyer's declarations regarding capacity to purchase and compliance with relevant laws
7. Grant of Power of Attorney: Explicit grant of powers from Seller to Buyer or nominated attorney, specifying scope of authority
8. Powers Granted: Detailed list of specific powers being granted to the attorney for property dealings
9. Completion Requirements: Steps to be taken for completion of sale and transfer of property
10. Costs and Taxes: Allocation of responsibility for various costs, duties, and taxes
11. Governing Law and Jurisdiction: Specifies Pakistani law as governing law and relevant jurisdiction for disputes
12. Execution: Formal signing section including witness requirements and attestation
1. Condition Precedents: Used when there are specific conditions that must be met before the agreement becomes effective
2. Property Inspection: Include when specific inspection requirements or findings need to be documented
3. Mortgage or Encumbrance Details: Required if the property has existing mortgages or encumbrances that need to be addressed
4. Third Party Consents: Include when certain approvals or consents are needed from other parties
5. Power of Substitution: Include if the attorney should have power to delegate authority to others
6. Revocation Clause: Optional clause specifying conditions under which the power of attorney can be revoked
7. Dispute Resolution: Detailed dispute resolution procedures if parties want specific mechanisms beyond court jurisdiction
1. Property Description Schedule: Detailed description of the property including exact measurements, boundaries, and registration details
2. Payment Schedule: Breakdown of payment installments, dates, and methods if not paid in full
3. Title Documents: List and copies of all relevant property title and ownership documents
4. Property Documents: Copies of property tax receipts, utility bills, and other relevant property documents
5. Powers Schedule: Detailed enumeration of all specific powers being granted under the power of attorney
6. Encumbrance Schedule: Details of any existing mortgages, liens, or other encumbrances on the property
7. Required Consents: Copies of any required third-party consents or regulatory approvals
Authors
Real Estate
Legal Services
Banking & Finance
Property Development
Construction
Urban Development
Professional Services
Residential Property
Commercial Property
Legal
Real Estate
Property Management
Compliance
Contract Administration
Risk Management
Corporate Services
Document Control
Operations
Real Estate Lawyer
Property Manager
Legal Counsel
Conveyancing Manager
Real Estate Agent
Property Developer
Compliance Officer
Legal Administrator
Title Officer
Property Consultant
Contract Manager
Real Estate Transaction Coordinator
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