The Property Purchase Agreement is the cornerstone document for real estate transactions in Ireland, used whenever there is a transfer of property ownership from one party to another. This agreement is essential for both residential and commercial property transactions and must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009. It contains crucial information about the property, parties involved, purchase price, warranties, and completion requirements. The document is typically prepared after initial terms are agreed upon but before the exchange of contracts, and it forms the basis for the final binding agreement between parties. It must address specific requirements of Irish property law, including title verification, stamp duty considerations, and proper registration procedures with the Land Registry.
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1. Parties: Identifies and defines the Vendor/Seller and Purchaser/Buyer with full legal names and addresses
2. Background: Outlines the context of the sale, including brief property description and parties' intention to enter into the transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Description: Detailed description of the property being sold, including its legal boundaries and folio number
5. Purchase Price: Specifies the agreed purchase price, payment terms, and deposit requirements
6. Title: Vendor's confirmation of good marketable title and obligations regarding title delivery
7. Conditions Precedent: Essential conditions that must be satisfied before completion can occur
8. Vendor's Warranties: Warranties regarding property condition, disputes, planning compliance, and other material matters
9. Purchaser's Warranties: Warranties regarding funding ability and other purchaser obligations
10. Completion: Mechanics of completion, including timing, location, and documentation requirements
11. Risk and Insurance: Provisions regarding property risk transfer and insurance requirements
12. Notices: Process for serving formal notices between parties
13. Governing Law: Confirms Irish law as governing law and jurisdiction
14. Entire Agreement: Standard boilerplate confirming this document represents the entire agreement between parties
1. VAT: Required when the property transaction involves VAT implications
2. Tenant Provisions: Required when the property is sold subject to existing tenancies
3. Planning Conditions: Needed when specific planning permissions or restrictions affect the property
4. Management Company: Required for apartments or properties within managed developments
5. Environmental Matters: Needed when environmental issues or assessments are relevant
6. Development Rights: Required when future development potential is part of the transaction
7. Agricultural Provisions: Needed for agricultural land sales including specific farming-related warranties
8. Break Conditions: Required when either party needs specific break rights before completion
1. Schedule 1 - Property Details: Detailed property description, including maps, plans, and boundaries
2. Schedule 2 - Contents: Inventory of contents included in the sale
3. Schedule 3 - Title Documents: List of title documents and certified copies to be handed over
4. Schedule 4 - Warranties: Detailed vendor warranties regarding the property
5. Schedule 5 - Planning Permissions: List of relevant planning permissions and compliance certificates
6. Appendix 1 - Property Maps: Official maps and plans showing the property boundaries and location
7. Appendix 2 - BER Certificate: Building Energy Rating certificate and advisory report
8. Appendix 3 - Property Searches: Results of legal searches against the property and vendor
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