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The Agreement For House Purchase is a fundamental legal document used in Canadian residential real estate transactions. This agreement is essential when transferring ownership of residential property between parties, whether they are individuals, corporations, or other legal entities. It encompasses all crucial aspects of the property sale, including purchase price, payment terms, property details, conditions of sale, and closing requirements. The document must comply with both federal and provincial legislation governing real estate transactions in Canada, including property law, consumer protection regulations, and financial services requirements. It serves as a comprehensive record of the transaction terms and protects the interests of all parties involved in the property transfer.

1. Parties: Identification of the seller and buyer with full legal names and addresses

2. Background: Context of the transaction and general purpose of the agreement

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

4. Property Description: Detailed legal description of the property being sold, including address and land registry details

5. Purchase Price: Statement of the purchase price and payment terms, including deposit amounts and payment schedule

6. Deposit: Details of the deposit amount, when it must be paid, and how it will be held

7. Closing Date: Specification of the closing date and time, and conditions related to closing

8. Title: Warranties regarding clear title and process for title search and insurance

9. Representations and Warranties: Statements of fact by both parties about the property and their capacity to enter into the agreement

10. Conditions Precedent: Conditions that must be satisfied before the agreement becomes binding

11. Property Inspection: Terms regarding the buyer's right to inspect the property and consequences of inspection

12. Included Items: List of fixtures and chattels included in the purchase price

13. Excluded Items: List of items specifically excluded from the sale

14. Adjustments: How property taxes, utilities, and other expenses will be prorated between parties

15. Risk: Assignment of risk and responsibility for the property before closing

16. Default: Consequences of default by either party

17. Notices: How and where formal notices under the agreement must be delivered

18. General Provisions: Standard legal provisions including governing law, assignment, and entire agreement

19. Execution: Signature blocks and execution requirements