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Real Estate Contract Assignment Form
"I need a Real Estate Contract Assignment Form for transferring my rights in a commercial plaza unit in Lahore to a corporate buyer, with the assignment to be completed by March 2025 and including provisions for staggered payment arrangements."
1. Parties: Identification of the Assignor (original contract holder), Assignee (party receiving the rights), and acknowledgment of the Original Seller/Developer
2. Background: Details of the original contract being assigned, including date, parties, and property details
3. Definitions: Key terms used in the assignment agreement including Property, Original Contract, Consideration, etc.
4. Assignment: Core provision transferring all rights, title, and interest in the Original Contract to the Assignee
5. Consideration: Details of the payment or consideration for the assignment
6. Representations and Warranties: Assignor's declarations regarding their right to assign, status of the Original Contract, and absence of encumbrances
7. Assignor's Covenants: Ongoing obligations of the Assignor, including cooperation with registration and documentation
8. Assignee's Undertakings: Acceptance of obligations under the Original Contract and compliance commitments
9. Completion Requirements: Steps required to complete the assignment, including registration and notifications
10. Governing Law and Jurisdiction: Specification of Pakistani law and relevant jurisdiction
11. Execution: Signature blocks and witness requirements as per Pakistani law
1. Consent of Original Seller: Required if the Original Contract requires consent for assignment
2. Partial Assignment Provisions: Needed if only certain rights or portions of the property are being assigned
3. Islamic Law Compliance: Additional provisions ensuring compliance with Islamic law principles if required by parties
4. Tax Obligations: Specific provisions regarding responsibility for transfer taxes and capital gains tax
5. Power of Attorney: Authorization for the Assignee to deal directly with relevant authorities
6. Dispute Resolution: Alternative dispute resolution mechanisms if preferred over court jurisdiction
7. Further Assurance: Additional commitments to execute future documents or take actions if needed
1. Schedule 1: Property Details: Detailed description of the property including location, dimensions, and registration details
2. Schedule 2: Original Contract: Copy or key details of the Original Contract being assigned
3. Schedule 3: Outstanding Payments: Details of any remaining payments due under the Original Contract
4. Schedule 4: Required Consents: List of necessary approvals and consents obtained or required
5. Appendix A: Property Documents: Copies of relevant property documents and certificates
6. Appendix B: Payment Schedule: Schedule of payments for the assignment consideration if paid in installments
Authors
Real Estate
Property Development
Construction
Banking and Finance
Investment Management
Legal Services
Property Management
Urban Development
Commercial Property
Residential Property
Legal
Real Estate
Compliance
Property Management
Documentation
Finance
Risk Management
Operations
Customer Relations
Business Development
Real Estate Agent
Property Developer
Legal Counsel
Property Manager
Real Estate Investment Manager
Compliance Officer
Contract Administrator
Real Estate Broker
Property Consultant
Title Officer
Real Estate Attorney
Property Registration Officer
Islamic Law Advisor
Real Estate Transaction Manager
Property Documentation Specialist
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