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Simple Land Purchase Agreement
"I need a Simple Land Purchase Agreement for buying a 5-acre agricultural plot in Ontario, with a closing date of March 15, 2025, including special provisions for existing crop agreements and water rights."
1. Parties: Identifies and provides full legal names and addresses of the vendor (seller) and purchaser (buyer)
2. Background: Establishes the context of the agreement, confirming the seller's ownership and both parties' intention to enter into the transaction
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Property Description: Detailed legal description of the property being sold, including municipal address and legal land description
5. Purchase Price: States the agreed purchase price and details of how and when payment will be made
6. Deposit: Specifies the amount, payment terms, and handling of the deposit
7. Closing Date: Establishes the date for completing the transaction and transferring ownership
8. Title and Ownership: Warranties regarding clear title and transfer of ownership
9. Representations and Warranties: Standard declarations by both parties regarding their capacity to enter the agreement and the property's condition
10. Closing Conditions: Lists conditions that must be met before the sale can be completed
11. Closing Deliverables: Details the documents and items each party must provide at closing
12. Default and Remedies: Outlines what constitutes default and the available remedies
13. General Provisions: Standard contract clauses including governing law, notices, and amendment procedures
1. Financing Conditions: Used when the purchase is conditional on the buyer obtaining mortgage financing
2. Property Inspection: Include when the agreement is conditional on a satisfactory property inspection
3. Environmental Conditions: Required when there are environmental concerns or requirements for environmental assessment
4. Tenant Rights: Include when the property is sold with existing tenants and their rights need to be addressed
5. HST/GST Provisions: Required for new construction or commercial properties where HST/GST applies
6. Property Management: Include when there are interim property management arrangements between agreement and closing
7. Foreign Buyer Provisions: Include when the purchaser is not a Canadian citizen or permanent resident
8. Chattels and Fixtures: Used when specific items of personal property are included or excluded from the sale
1. Schedule A - Legal Description: Detailed legal description of the property from land registry office
2. Schedule B - Permitted Encumbrances: List of accepted liens, easements, or encumbrances that will remain on title
3. Schedule C - Included Chattels: Itemized list of personal property included in the sale
4. Schedule D - Excluded Fixtures: List of items normally considered fixtures that are excluded from the sale
5. Schedule E - Property Condition Report: Detailed report on the current condition of the property
6. Appendix 1 - Property Survey: Current survey of the property showing boundaries and structures
7. Appendix 2 - Environmental Reports: Any environmental assessments or reports on the property
8. Appendix 3 - Title Search Results: Results of title search showing current ownership and encumbrances
Authors
Real Estate
Legal Services
Financial Services
Construction
Property Development
Agriculture
Commercial Property
Residential Property
Urban Planning
Property Management
Legal
Real Estate
Property Management
Acquisitions
Development
Finance
Compliance
Due Diligence
Investment
Operations
Real Estate Agent
Property Lawyer
Conveyancing Clerk
Property Developer
Land Surveyor
Real Estate Broker
Title Examiner
Property Manager
Real Estate Paralegal
Mortgage Broker
Legal Counsel
Real Estate Investment Manager
Land Development Manager
Property Acquisition Specialist
Real Estate Transaction Coordinator
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