The Contract To Sell Home is a fundamental legal document used in Pakistani real estate transactions to formalize the sale of residential property. This document is essential when transferring home ownership from one party to another, whether in completed properties or under-construction projects. It must comply with multiple Pakistani legislations, including the Transfer of Property Act 1882, Registration Act 1908, and Stamp Act 1899, while also considering Islamic law principles where applicable. The contract includes detailed property descriptions, financial terms, transfer conditions, and specific clauses required by local development authorities. It's particularly important in Pakistan's property market where formal documentation is crucial for legal protection and proper title transfer. The document serves as both a binding agreement and a necessary component for property registration with relevant authorities.
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1. Parties: Identification of the Seller and Buyer with complete legal names, CNICs, and addresses
2. Background: Brief context about the property sale and the parties' intention to enter into this agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, dimensions, boundaries, and registration details
5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable
6. Payment Method: Specified method of payment and banking details
7. Title and Ownership: Seller's declarations regarding clear title and ownership rights
8. Possession: Terms and timing of property possession transfer
9. Registration and Transfer: Process and responsibilities for property registration and transfer
10. Representations and Warranties: Seller's warranties regarding property condition, encumbrances, and legal status
11. Costs and Taxes: Allocation of transfer costs, taxes, and stamp duties
12. Default and Remedies: Consequences of default and available remedies
13. Governing Law: Specification of Pakistani law as governing law and jurisdiction
14. Signatures: Execution blocks for parties and witnesses as required by Pakistani law
1. Condition Precedents: Specific conditions that must be met before the sale can proceed, used when there are pending approvals or clearances
2. Property Inspection: Terms for property inspection and acceptance, used when buyer hasn't fully inspected the property
3. Existing Tenancy: Details about current tenants and handling of tenancy, included if property is currently rented
4. Mortgage Details: Information about existing mortgages and their settlement, included if property has existing loans
5. Fixtures and Fittings: List of items included/excluded in sale, used when specific items need clarification
6. Construction Completion: Terms for completion of ongoing construction, used for under-construction properties
7. Power of Attorney: Authorization details if any party is acting through an agent
8. Force Majeure: Provisions for unforeseen circumstances, included in areas prone to natural disasters or political instability
1. Property Documents: List of all property papers, title documents, and previous sale deeds
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Property Plan: Architectural plans, site maps, and property measurements
4. Inventory List: Detailed list of fixtures, fittings, and other items included in the sale
5. Outstanding Dues: List of pending utility bills, taxes, or other charges
6. Completion Requirements: Checklist of documents required for completion of sale
7. No-Objection Certificates: Copies of necessary NOCs from relevant authorities
8. Chain of Title: Historical ownership record of the property
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Legal Services
Banking & Finance
Property Development
Insurance
Property Management
Urban Development
Housing Finance
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Documentation
Housing Development
Conveyancing
Customer Relations
Relevant Roles
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Housing Finance Manager
Mortgage Officer
Property Valuator
Real Estate Developer
Conveyancing Lawyer
Title Officer
Compliance Officer
Property Registration Officer
Real Estate Transaction Manager
Housing Development Executive
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