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As Is Where Is Basis Deed Of Sale Template for Australia

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Key Requirements PROMPT example:

As Is Where Is Basis Deed Of Sale

"I need an As Is Where Is Basis Deed of Sale for the transfer of used manufacturing equipment from our Sydney facility to a buyer in Perth, with completion scheduled for March 2025, including specific provisions for dismantling and transportation responsibilities."

Document background
The As Is Where Is Basis Deed of Sale is a crucial document in Australian commercial transactions where assets are sold in their present condition without warranties or representations from the seller. This document type is particularly relevant when selling used equipment, distressed assets, or property where the seller wishes to limit their liability and the buyer has had the opportunity to inspect and assess the asset's condition. The deed incorporates specific provisions required under Australian law, including state-specific requirements for property transfer and consumer protection considerations. It's commonly used in commercial, industrial, and private transactions where both parties acknowledge and agree to the transfer of risk and limited liability nature of the sale.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including their legal capacity and contact details

2. Background: Sets out the context of the sale and the parties' intentions

3. Definitions and Interpretation: Defines key terms used in the deed and establishes interpretation principles

4. Sale and Purchase: Details the core agreement to sell and purchase the asset 'as is where is'

5. Purchase Price and Payment: Specifies the purchase price, payment terms, and method of payment

6. 'As Is Where Is' Acknowledgment: Explicit acknowledgment by purchaser of the 'as is where is' nature of the sale and inspection opportunities

7. Disclaimer of Warranties: Clear statement of warranties being disclaimed and extent of disclaimer

8. Risk and Title: Specifies when risk and title pass to the purchaser

9. Completion: Details the completion process, including timing, location, and requirements

10. Default and Termination: Consequences of default and termination rights

11. Notices: How formal notices under the deed must be given

12. General Provisions: Standard boilerplate provisions including governing law, entire agreement, etc

13. Execution: Formal execution blocks for all parties

Optional Sections

1. GST: Required if the sale is subject to GST, detailing GST treatment and obligations

2. Conditions Precedent: Include if completion is subject to certain conditions being met

3. Due Diligence: If a due diligence period is allowed before final commitment

4. Environmental Matters: Required for sales of property or equipment with potential environmental impacts

5. Intellectual Property: Include if the sale involves any IP rights or licenses

6. Confidentiality: If confidentiality obligations are required beyond completion

7. Assignment: If rights to assign the contract need to be addressed

8. Third Party Consents: If the sale requires consents from third parties

9. Security Interests: If there are existing security interests to be addressed

Suggested Schedules

1. Asset Description: Detailed description of the asset(s) being sold, including any identifying numbers or marks

2. Known Defects: List of known defects or issues with the asset (if any)

3. Purchase Price Breakdown: Itemized breakdown of the purchase price if multiple assets involved

4. Completion Checklist: List of items to be delivered or actions to be taken at completion

5. Required Forms: Any statutory or registration forms required for the transfer

6. Existing Encumbrances: Details of any existing encumbrances affecting the asset

7. Transfer Documents: Forms and documents required to effect the transfer of title

8. Inspection Report: If an inspection has been conducted, the report can be attached as evidence of asset condition

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

Manufacturing

Industrial

Real Estate

Mining

Construction

Agriculture

Transportation

Marine

Aviation

Equipment Trading

Asset Management

Automotive

Heavy Machinery

Plant and Equipment

Waste Management

Recycling

Relevant Teams

Legal

Commercial

Procurement

Operations

Risk and Compliance

Asset Management

Property Management

Finance

Sales

Business Development

Facilities Management

Relevant Roles

Legal Counsel

Commercial Manager

Asset Manager

Procurement Manager

Business Development Manager

Operations Manager

Risk Manager

Compliance Officer

Property Manager

Fleet Manager

Equipment Manager

Sales Manager

Contract Administrator

Chief Financial Officer

Chief Operations Officer

Director of Operations

Facility Manager

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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