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Agreement To Sell With Possession for Pakistan

Agreement To Sell With Possession Template for Pakistan

This document is a specialized property transaction agreement governed by Pakistani law that combines a future sale commitment with immediate transfer of possession. It creates a unique legal arrangement where the purchaser gains possession rights while the seller retains ownership until the full payment and final sale deed execution. The agreement is structured under Pakistan's Contract Act 1872 and Transfer of Property Act 1882, incorporating specific provisions for possession transfer, maintenance responsibilities, and eventual property transfer. It includes detailed terms regarding payment schedules, property maintenance during the possession period, and the process for final sale deed execution.

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Agreement To Sell With Possession

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What is a Agreement To Sell With Possession?

The Agreement To Sell With Possession is a crucial document in Pakistani property transactions where immediate possession is required before the final sale deed execution. This arrangement is commonly used in situations where the full payment is made in installments, or when parties want to transfer possession immediately while completing legal formalities for the final sale. The document comprehensively addresses both immediate possession rights and future property transfer obligations, incorporating requirements under Pakistani property law, including the Transfer of Property Act 1882 and Registration Act 1908. It's particularly useful in residential and commercial property transactions where buyers need immediate occupancy but the complete transfer of ownership is scheduled for a future date. The agreement protects both parties' interests by clearly defining possession rights, maintenance responsibilities, payment terms, and the process for eventual property transfer.

What sections should be included in a Agreement To Sell With Possession?

1. Parties: Identification and details of the seller and purchaser including full names, addresses, and CNIC numbers

2. Background: Context of the transaction, brief property description, and parties' intention to enter into an agreement to sell with immediate possession

3. Definitions: Definitions of key terms used in the agreement including Property, Completion Date, Purchase Price, and Possession Date

4. Sale Consideration: Details of the total purchase price, payment structure, and payment methods

5. Property Details: Comprehensive description of the property being sold including location, dimensions, and boundaries

6. Possession Terms: Terms and conditions regarding the transfer and maintenance of possession until final sale deed execution

7. Seller's Representations and Warranties: Seller's declarations regarding property title, encumbrances, and authority to sell

8. Purchaser's Covenants: Purchaser's obligations regarding property maintenance, utility payments, and compliance with regulations while in possession

9. Completion: Process and requirements for executing the final sale deed

10. Default and Remedies: Consequences of default by either party and available remedies

11. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes

12. Notices: Method and addresses for serving notices between parties

13. Execution: Signature blocks and witness details

What sections are optional to include in a Agreement To Sell With Possession?

1. Payment Schedule: Detailed installment plan if payment is not made in full - include when purchase price is to be paid in installments

2. Third Party Rights: Rights of existing tenants or other occupants - include when property has current occupants other than the seller

3. Renovation Rights: Terms regarding purchaser's right to modify or renovate the property while in possession - include when purchaser intends to make changes before final sale

4. Mortgage Details: Terms regarding existing or planned mortgage - include when property is or will be mortgaged

5. Transfer of Utilities: Process for transferring utility connections and deposits - include when utilities are in seller's name

6. Insurance: Requirements for property insurance during possession period - include for high-value properties or when required by financing

7. Power of Attorney: Authorization for specific actions - include when any party is acting through an attorney

What schedules should be included in a Agreement To Sell With Possession?

1. Schedule 1 - Property Description: Detailed property specifications including exact measurements, boundaries, and included fixtures and fittings

2. Schedule 2 - Payment Terms: Detailed breakdown of payment structure including amounts, dates, and payment methods

3. Schedule 3 - Property Documents: List of title and property documents to be handed over upon completion

4. Schedule 4 - Possession Inventory: Inventory of items included in possession and their condition at the time of possession

5. Schedule 5 - Outstanding Liabilities: List of pending utilities, taxes, or other charges and responsibility for payment

6. Appendix A - Property Photos: Photographic evidence of property condition at time of possession

7. Appendix B - Necessary Approvals: Copies of relevant NOCs, permits, or approvals from authorities

Authors

Alex Denne

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

Jurisdiction

Pakistan

Document Type

Sale Agreement

Cost

Free to use
Relevant legal definitions



































Clauses






























Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Housing & Urban Development

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Documentation

Sales

Business Development

Risk Management

Operations

Corporate Affairs

Relevant Roles

Legal Counsel

Property Manager

Real Estate Agent

Property Developer

Contract Manager

Real Estate Attorney

Compliance Officer

Property Valuation Expert

Transaction Manager

Real Estate Portfolio Manager

Housing Society Manager

Property Documentation 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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