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Property Purchase Agreement
"I need a Property Purchase Agreement for a foreign corporate buyer acquiring a commercial property in Qatar's West Bay area, with completion scheduled for March 2025 and including specific provisions for staggered payments through an escrow account."
1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and QID/passport numbers as required by Qatar law
2. Background: Context of the transaction including brief property description and parties' intention to enter into the sale
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price'
4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms of the transaction
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods in accordance with Qatar banking regulations
6. Property Details: Comprehensive description of the property including location, size, and registration details as per Qatar Land Registry requirements
7. Conditions Precedent: Conditions that must be satisfied before completion, including necessary governmental approvals
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with Qatar property laws
9. Buyer's Warranties: Warranties regarding capacity to purchase and compliance with Qatar's foreign ownership laws if applicable
10. Completion: Process and requirements for completion, including documentation and registration requirements
11. Post-Completion Matters: Obligations after completion including property registration and utility transfers
12. Notices: Process for serving notices between parties in accordance with Qatar law
13. Governing Law and Jurisdiction: Confirmation of Qatar law as governing law and Qatar courts' jurisdiction
1. Foreign Ownership Compliance: Required when buyer is non-Qatari, detailing compliance with Law No. 16 of 2018
2. Mortgage Arrangements: Required when purchase involves mortgage financing, including bank requirements
3. Agent Appointment: Required when either party acts through an authorized agent
4. Property Management Handover: Required for properties in managed developments or compounds
5. Development Obligations: Required for off-plan properties or properties under construction
6. Tenant Provisions: Required when property is sold with existing tenants
7. Condition Precedent for Regulatory Approval: Required for properties in special economic zones or requiring specific governmental approvals
1. Property Description Schedule: Detailed technical description of the property including plot number, location coordinates, and boundary details
2. Title Documents: Copies of ownership documents and land registry extracts
3. Payment Schedule: Detailed breakdown of payment installments and dates
4. Property Inventory: List of fixtures, fittings, and contents included in the sale
5. Due Diligence Documents: Copies of permits, certificates, and compliance documents
6. Property Plans: Official property plans and drawings as registered with municipality
7. Handover Protocol: Detailed procedure for physical handover of the property
Authors
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Investment Management
Property Management
Hospitality
Commercial Property
Residential Property
Legal
Real Estate
Compliance
Property Management
Business Development
Investment
Operations
Finance
Corporate Affairs
Facilities Management
Real Estate Manager
Property Development Director
Legal Counsel
Compliance Officer
Real Estate Broker
Property Consultant
Investment Manager
Corporate Lawyer
Real Estate Partner
Property Registration Officer
Real Estate Transaction Manager
Business Development Manager
Asset Manager
Facilities Manager
Property Portfolio Manager
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