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New Residential Purchase Agreement Template for England and Wales

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Key Requirements PROMPT example:

New Residential Purchase Agreement

"I need a New Residential Purchase Agreement for a £450,000 three-bedroom house in Surrey, with completion planned for March 2025, including specific provisions for the retention of solar panels and electric vehicle charging point."

Document background
The New Residential Purchase Agreement is a fundamental legal document used in England and Wales for the transfer of residential property ownership. It serves as the primary contract between buyer and seller, establishing the terms and conditions of the property sale, including price, completion date, and specific conditions. This agreement is essential for ensuring compliance with land law requirements, protecting both parties' interests, and facilitating smooth property transfer. It should be used whenever a residential property is being purchased and must comply with relevant legislation including the Law of Property Act 1925 and Land Registration Act 2002.
Suggested Sections

1. Parties: Details of buyer and seller including full names, addresses, and contact information

2. Background: Context of the transaction and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Details: Full legal description of the property including title number

5. Purchase Price: Amount agreed and payment terms

6. Completion Date: Agreed date for completion of the purchase

7. Title Guarantee: Seller's covenant regarding title

8. Vacant Possession: Conditions of property transfer

Optional Sections

1. Fixtures and Fittings: Detailed list of items included/excluded from sale - use when specific items need to be clearly identified as included or excluded

2. Planning Permissions: Details of existing permissions or restrictions - use when property has specific planning conditions or outstanding permissions

3. Service Charges: Details of ongoing charges - use for leasehold properties or properties with management charges

Suggested Schedules

1. Property Plan: Official plan showing boundaries and extent of property

2. Fixtures and Fittings List: Detailed inventory of items included in sale

3. Title Documents: Copies of relevant title documents and registers

4. Property Information Form: Standard form containing detailed property information from seller

5. Energy Performance Certificate: Current EPC for the property

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






























Industries

Law of Property Act 1925: Core legislation establishing fundamental land law principles, defining legal estates and interests in land, and setting requirements for land-related contracts

Land Registration Act 2002: Governs the registration of land titles, establishes priority of interests, and outlines the protection of interests in registered land

Consumer Protection from Unfair Trading Regulations 2008: Sets out disclosure requirements and prohibits misleading omissions or actions in property transactions

Contracts (Rights of Third Parties) Act 1999: Defines how third-party rights operate in contractual agreements including property contracts

Housing Act 1985: Establishes fundamental statutory rights and obligations related to residential property

Landlord and Tenant Act 1985: Sets standards for property conditions and defines what constitutes fitness for habitation

Property Misdescriptions Act 1991: Though repealed, its principles remain relevant regarding accuracy in property descriptions

Money Laundering Regulations 2017: Mandates identity verification and source of funds checks in property transactions

Finance Act 2003: Contains provisions for Stamp Duty Land Tax and related tax implications of property purchases

Energy Performance of Buildings Regulations 2012: Mandates Energy Performance Certificate (EPC) requirements for property transactions

Building Safety Act 2022: Establishes requirements for building safety information and related obligations in property transactions

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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