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Bill Of Sale Land Contract
"I need a Bill of Sale Land Contract for the purchase of a commercial property in Ontario, closing March 15, 2025, with specific provisions for environmental assessment requirements and existing tenant rights for three retail spaces currently under lease."
1. Parties: Identification of the Vendor (Seller) and Purchaser (Buyer) with full legal names and addresses
2. Background: Context of the sale and brief description of the transaction
3. Definitions: Key terms used throughout the agreement defined for clarity
4. Property Description: Detailed legal description of the land and any improvements, including municipal address and legal land title information
5. Purchase Price: Total purchase price, deposit amount, and payment terms
6. Transfer of Title: Terms and conditions for transferring legal title from seller to buyer
7. Representations and Warranties: Seller's assertions about the property's condition, title, and any encumbrances
8. Closing Date: Specified date for completion of the transaction and transfer of possession
9. Adjustments: How property taxes, utilities, and other expenses will be prorated between parties
10. Closing Conditions: Requirements that must be met before the sale can be completed
11. Default and Remedies: Consequences and available remedies if either party fails to perform
12. Governing Law: Specification that the agreement is governed by Canadian law and the applicable province
13. Execution: Signature blocks and execution requirements
1. Mineral Rights: Used when mineral rights are included or specifically excluded from the sale
2. Tenant Rights: Required when the property is subject to existing lease agreements
3. Environmental Matters: Include when there are known environmental issues or specific warranties needed
4. Financing Conditions: Include when the purchase is contingent on the buyer obtaining financing
5. Property Inspection: When buyer requires property inspection as a condition of purchase
6. Agricultural Use: Required for properties with agricultural designation or farming operations
7. First Nations Considerations: Include when property involves or affects First Nations rights or lands
8. Heritage Property: Required when property has heritage designation or restrictions
9. Water Rights: Include when water rights are specifically included or excluded from the sale
1. Schedule A - Property Description: Detailed legal description of the land, including surveys and property boundaries
2. Schedule B - Permitted Encumbrances: List of permitted liens, easements, and encumbrances that will continue after sale
3. Schedule C - Property Disclosure Statement: Seller's disclosure of property condition and known issues
4. Schedule D - Title Search Results: Current title search showing ownership and registered interests
5. Schedule E - Environmental Reports: Any environmental assessments or reports on the property
6. Schedule F - Property Tax Assessment: Current property tax assessment and payment status
7. Appendix 1 - Property Images: Recent photographs of the property and improvements
8. Appendix 2 - Site Plans: Building plans, site plans, and any relevant municipal drawings
9. Appendix 3 - Certificates: Relevant certificates including zoning compliance and building permits
Authors
Real Estate
Agriculture
Commercial Property Development
Residential Development
Industrial
Mining
Forestry
Hospitality
Retail
Environmental Services
Construction
Legal Services
Financial Services
Legal
Real Estate
Compliance
Property Management
Asset Management
Development
Corporate Services
Risk Management
Finance
Investment
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Land Developer
Corporate Counsel
Legal Administrator
Title Examiner
Compliance Officer
Real Estate Paralegal
Property Administrator
Development Manager
Asset Manager
Real Estate Analyst
Land Acquisition Manager
Real Estate Investment Manager
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