¶¶Òõ¶ÌÊÓƵ

The Agreement of Sale Without Possession is a specialized contract used in Pakistan when parties wish to execute a property sale but defer the transfer of possession. This arrangement is common in scenarios such as property under development, leased properties, or when the seller requires time to vacate. The agreement must comply with Pakistani legislation, including the Transfer of Property Act 1882 and Contract Act 1872, and typically includes comprehensive details about the property, payment terms, conditions for future possession transfer, and risk allocation during the interim period. This document type is particularly important in commercial real estate transactions, development projects, and situations where immediate possession transfer is not practical or desired. The agreement provides legal protection for both parties during the period between sale execution and actual possession transfer, ensuring clarity of rights and obligations throughout this interim phase.

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration details if companies

2. Background: Context of the sale, brief description of the property, and reason for delayed possession arrangement

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

4. Sale and Purchase: Core agreement to sell and purchase, including property description and purchase price

5. Payment Terms: Details of purchase price, payment schedule, and method of payment

6. Title and Ownership: Confirmation of seller's title, warranties regarding ownership, and terms of title transfer

7. Possession Arrangements: Terms and conditions for future transfer of possession, including timeline and requirements

8. Seller's Obligations: Seller's commitments regarding property maintenance, insurance, and preservation until possession

9. Purchaser's Rights: Purchaser's rights before taking possession, including inspection rights

10. Risk and Insurance: Allocation of risk and responsibility for insurance until possession transfer

11. Representations and Warranties: Statements and guarantees by both parties regarding the property and transaction

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

13. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for disputes

14. Execution: Signature blocks and execution requirements