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Real Estate Contract Of Sale Template for India

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Key Requirements PROMPT example:

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."

Document background
The Real Estate Contract of Sale is a fundamental legal document used in Indian property transactions to formalize the transfer of real estate from one party to another. It is essential for both residential and commercial property transactions in India, ensuring compliance with the Transfer of Property Act 1882, Registration Act 1908, and state-specific property laws. This document serves as the primary agreement between parties, detailing all aspects of the property transfer, including property specifications, financial terms, warranties, and completion requirements. It must account for local stamp duty regulations, registration requirements, and any specific state laws governing property transfers. The agreement is crucial for protecting both parties' interests and ensuring a legally valid property transfer that will be recognized by Indian courts and authorities.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses



































Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Hospitality

Retail

Manufacturing

Healthcare

Education

Technology

Relevant Teams

Legal

Real Estate

Compliance

Finance

Operations

Business Development

Facilities Management

Asset Management

Risk Management

Property Management

Relevant Roles

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

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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