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Real Estate Contract Of Sale
"I need a Real Estate Contract of Sale for purchasing a residential property in Mumbai, India, with a completion date of March 15, 2025, where the property has an existing tenant whose lease expires in June 2025."
1. Parties: Identification and details of the seller and purchaser, including their full legal names, addresses, and any relevant registration numbers
2. Background: Brief context of the transaction, including seller's ownership status and intention to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being sold, including exact address, boundaries, and measurements
5. Sale and Purchase: Core agreement of the seller to sell and the buyer to purchase the property
6. Purchase Price: Agreed purchase price and payment structure, including deposit requirements
7. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
8. Title and Documents: Seller's warranties regarding title, list of required documents, and title verification process
9. Conditions Precedent: Conditions that must be satisfied before completion can occur
10. Completion: Details of the completion process, timing, and requirements
11. Representations and Warranties: Standard warranties from both parties, especially seller's warranties about the property
12. Rights and Obligations: Ongoing rights and obligations of both parties until completion
13. Default and Termination: Consequences of default and circumstances allowing termination
14. Notices: Process and requirements for serving notices under the agreement
15. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
1. Existing Tenancies: Required when the property has existing tenants, detailing arrangements for their continued occupation or vacation
2. Development Requirements: Needed when the property requires specific development or modifications before completion
3. Environmental Matters: Required for properties with environmental considerations or compliance requirements
4. Property Management: Included when there are interim management arrangements between exchange and completion
5. Tax Matters: Specific tax arrangements or obligations, particularly for complex commercial transactions
6. Third Party Rights: Required when there are existing rights affecting the property (easements, rights of way, etc.)
7. Force Majeure: Optional clause dealing with unforeseen circumstances preventing completion
8. Broker/Agent Provisions: Required when real estate agents are involved in the transaction
1. Property Description Schedule: Detailed technical description of the property, including floor plans and measurements
2. Title Documents Schedule: List and copies of all relevant title documents
3. Payment Schedule: Detailed breakdown of payment installments and timing
4. Encumbrances Schedule: List of all existing encumbrances, charges, or mortgages on the property
5. Completion Requirements Schedule: Checklist of all documents and requirements for completion
6. Existing Tenancies Schedule: Details of any existing lease agreements affecting the property
7. Outstanding Works Schedule: List of any repairs or works to be completed before completion
8. Due Diligence Documents: Appendix containing copies of all relevant due diligence documents
Authors
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Hospitality
Retail
Manufacturing
Healthcare
Education
Technology
Legal
Real Estate
Compliance
Finance
Operations
Business Development
Facilities Management
Asset Management
Risk Management
Property Management
Legal Counsel
Property Manager
Real Estate Agent
Property Developer
Compliance Officer
Contract Manager
Company Secretary
Real Estate Attorney
Property Valuer
Real Estate Investment Manager
Facilities Manager
Asset Manager
Business Development Manager
Operations Director
Chief Legal Officer
Chief Financial Officer
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