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Agreement For Sale Of Immovable Property Template for Canada

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Key Requirements PROMPT example:

Agreement For Sale Of Immovable Property

"I need an Agreement for Sale of Immovable Property for a multi-unit commercial building in Ontario, Canada, with specific provisions for existing tenant leases and environmental compliance requirements, as the building was previously used for light industrial purposes."

Document background
The Agreement For Sale of Immovable Property is a crucial legal document used in Canadian real estate transactions to formalize the transfer of real property ownership. This agreement is essential when any immovable property (such as land, buildings, or permanently fixed structures) is being sold in Canada, whether for residential, commercial, or industrial purposes. The document must comply with federal legislation such as the Land Titles Act and provincial property laws, while also addressing specific requirements for property transfer, registration, and ownership rights. It includes detailed provisions covering property description, purchase price, payment terms, closing conditions, warranties, and the rights and obligations of both parties. The agreement serves as the foundation for the property transfer process and is typically prepared following acceptance of an offer to purchase but before the closing of the sale.
Suggested Sections

1. Parties: Identifies and provides full legal details of the vendor and purchaser

2. Background: Outlines the context of the transaction and confirms the vendor's ownership and right to sell

3. Definitions: Defines key terms used throughout the agreement

4. Property Description: Detailed legal description of the property including lot number, plan, and municipal address

5. Purchase Price: Specifies the purchase price, deposit amount, and payment terms

6. Deposit: Details of the deposit amount, payment schedule, and handling of funds

7. Closing: Closing date, time, and location for completion of the transaction

8. Title and Ownership: Warranties regarding clear title and process for title transfer

9. Representations and Warranties: Standard warranties from both parties regarding authority, property condition, and legal status

10. Property Condition: Current state of the property and any known defects or issues

11. Adjustments: How property taxes, utilities, and other expenses will be prorated

12. Risk: Allocation of risk and responsibility for the property until closing

13. Default: Consequences and remedies in case either party defaults

14. Notices: How formal communications between parties should be made

15. General Provisions: Standard legal clauses including governing law, entire agreement, and amendments

Optional Sections

1. Financing Conditions: Used when the purchase is contingent on the buyer obtaining mortgage financing

2. Property Inspection: Include when the agreement is conditional on a satisfactory property inspection

3. Sale of Buyer's Property: Used when purchase is conditional on the buyer selling their existing property

4. Tenant Rights: Required when the property is currently tenanted and includes provisions regarding existing leases

5. HST/GST Provisions: Necessary for commercial properties or new residential properties subject to HST/GST

6. Environmental Conditions: Include for properties with potential environmental concerns or required assessments

7. Development Conditions: Used when the property purchase is contingent on obtaining specific development approvals

8. Foreign Buyer Provisions: Required when the purchaser is not a Canadian resident

9. Chattels and Fixtures: Details specific items included or excluded from the sale when necessary

Suggested Schedules

1. Schedule A - Legal Description: Detailed legal description of the property from land registry

2. Schedule B - Permitted Encumbrances: List of accepted encumbrances that will remain on title

3. Schedule C - Included Chattels: Itemized list of movable items included in the sale

4. Schedule D - Excluded Fixtures: List of items normally considered fixtures that are excluded from the sale

5. Schedule E - Required Repairs: List of repairs agreed to be completed before closing

6. Schedule F - Property Disclosure Statement: Vendor's disclosure of property condition and known issues

7. Schedule G - Environmental Reports: Environmental assessment results if applicable

8. Schedule H - Survey/Real Property Report: Current survey or real property report showing property boundaries and structures

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











































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Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Insurance

Property Management

Urban Planning

Architecture

Commercial Property

Residential Property

Agriculture (for farmland)

Industrial Property

Retail Property

Relevant Teams

Legal

Real Estate

Property Management

Acquisitions

Development

Finance

Compliance

Risk Management

Operations

Administrative Support

Investment

Due Diligence

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Real Estate Broker

Legal Counsel

Conveyancing Lawyer

Title Examiner

Mortgage Specialist

Property Developer

Land Surveyor

Commercial Property Manager

Real Estate Investment Manager

Property Administrator

Legal Assistant

Paralegal

Closing Coordinator

Real Estate Transaction 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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