Document background
The Letter of Agreement Between Buyer and Seller of Land is a crucial document in Pakistani property transactions, serving as an initial binding agreement between parties intending to transfer land ownership. This document is typically used at the preliminary stage of a land transaction, after negotiations are complete but before the formal sale deed is executed. It must comply with various Pakistani laws including the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial regulations. The letter captures essential elements such as property description, consideration, payment terms, and timeline for transfer, while being more concise than a full contract. It's particularly useful in situations where parties want to formally document their agreement while preparing for the final transfer, and can be used for both rural and urban properties, whether for residential, commercial, or agricultural purposes.
