The Building Purchase Contract is essential for any transaction involving the sale of buildings in England and Wales. It serves as the primary legal document governing the transfer of property ownership, incorporating all necessary terms, conditions, and statutory requirements. This contract type is particularly important as it addresses specific aspects of building purchases, including structural conditions, planning permissions, and compliance with building regulations. It provides legal protection for both parties and ensures the transaction meets all requirements under English and Welsh property law, including those set out in the Law of Property Act 1925 and Land Registration Act 2002.
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1. Parties: Details of buyer and seller, including full legal names and addresses
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold
5. Purchase Price: Amount and payment terms
6. Completion: Completion date and process
7. Title Guarantee: Seller's warranties regarding ownership
8. Vacant Possession: Conditions of property transfer
1. VAT Provisions: Provisions relating to VAT treatment of the property sale - required for commercial properties that are VAT-elected
2. Tenant Provisions: Details of existing tenancies and provisions relating to ongoing leases - required when property is sold subject to tenancies
3. Planning Conditions: Specific planning requirements or restrictions that affect the property - required when property requires planning permission
4. Environmental Provisions: Environmental warranties and indemnities - required for properties with environmental concerns or contamination risks
1. Property Schedule: Detailed property description including plans and boundaries
2. Title Documents: Copies of title register and plan
3. Fixtures and Fittings: List of included and excluded items
4. Planning Permissions: Copies of relevant planning permissions and building regulations approval
5. Environmental Reports: Any environmental surveys or reports
6. Property Information Form: Standard property information provided by seller
Relevant legal definitions
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