Commercial Property Purchase And Sale Agreement

Commercial Property Purchase And Sale Agreement Template for Ireland

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Key Requirements PROMPT example:

"I need a Commercial Property Purchase and Sale Agreement under Irish law for a retail property in Dublin city center, which includes provisions for existing tenancies and transfer of service contracts, with completion planned for March 2025."

Document background

The Commercial Property Purchase And Sale Agreement is a fundamental legal document used in Irish property transactions when transferring ownership of commercial real estate. It is essential for any business entity looking to acquire or dispose of commercial property in Ireland, whether for investment, operational use, or development purposes. The agreement must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009 and related legislation. It typically includes detailed provisions covering property description, title verification, warranties, environmental matters, planning permissions, existing tenancies, and completion procedures. The document serves as the primary contract between the vendor and purchaser, establishing their respective rights and obligations throughout the transaction process, from exchange through to completion and post-completion matters.

Suggested Sections

1. Parties: Identifies and defines the Vendor and Purchaser with full legal names and addresses

2. Background: Recitals explaining the context of the agreement, including brief property description and intention to sell/purchase

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price and payment terms

5. Conditions Precedent: Conditions that must be satisfied before completion can occur

6. Title and Properties: Details of the property title, boundaries, and any encumbrances or rights affecting the property

7. Vendor's Warranties: Warranties given by the vendor regarding the property's condition, title, and other relevant matters

8. Pre-Completion Obligations: Obligations of both parties between exchange and completion

9. Completion: Process and requirements for completing the transaction

10. Post-Completion Matters: Actions required after completion, including registration and handover of documents

11. Tax Provisions: Provisions relating to VAT, stamp duty, and other tax matters

12. Notices: How formal notices under the agreement should be given and when they are deemed received

13. General Provisions: Standard boilerplate clauses including entire agreement, severability, and governing law

Optional Sections

1. Environmental Matters: Required when the property has potential environmental issues or requires specific environmental warranties

2. Planning and Development: Included when there are ongoing or pending planning permissions or development issues

3. Existing Tenancies: Required when the property is sold subject to existing leases or tenancy agreements

4. Service Contracts: Needed when there are ongoing service contracts that will be transferred with the property

5. Employee Matters: Required when the sale involves transfer of employees under TUPE regulations

6. Construction Warranties: Included for newer properties with existing construction warranties or ongoing defects liability periods

7. Asset Transfer: Required when the sale includes furniture, equipment, or other assets beyond the property itself

8. Intellectual Property: Needed when the sale includes rights to building names, logos, or other IP associated with the property

Suggested Schedules

1. Property Description: Detailed description of the property including maps, plans, and boundaries

2. Title Documents: List of all title documents and certified copies to be delivered on completion

3. Vendor Warranties: Detailed warranties given by the vendor regarding the property

4. Existing Tenancies: Details of all existing leases and tenancy agreements affecting the property

5. Service Contracts: List and details of service contracts to be transferred

6. Planning Permissions: Copies of all relevant planning permissions and certificates

7. Environmental Reports: Environmental surveys, assessments, and certificates

8. Building Specifications: Technical specifications, floor plans, and building surveys

9. Fixtures and Fittings: Inventory of fixtures, fittings, and other items included in the sale

10. Property Certificate: Standard property certificates and local authority searches

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Commercial Property Development

Retail

Hospitality

Manufacturing

Logistics and Warehousing

Healthcare

Professional Services

Financial Services

Technology

Education

Industrial

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk and Compliance

Property Development

Corporate Services

Investment

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Property Director

Real Estate Manager

Facilities Manager

Legal Counsel

Commercial Director

Operations Director

Property Investment Manager

Asset Manager

Development Director

Risk Manager

Company Secretary

Finance Director

Property Portfolio Manager

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Let's create your Commercial Property Purchase And Sale Agreement

Authors

Alex Denne

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