A Deed of Purchase is a fundamental legal instrument in Pakistani property law, used to document and effectuate the transfer of property ownership. This deed is essential when any real estate transaction occurs in Pakistan, whether involving residential, commercial, or industrial property. The document must comply with the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial laws. It contains crucial information including detailed property description, parties' information, consideration amount, and various warranties and representations. The Deed of Purchase must be properly stamped under the Stamp Act 1899 and registered with the relevant Sub-Registrar's office. It serves as the primary evidence of property transfer and is often required by banks, government authorities, and future purchasers as proof of ownership.
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1. Parties: Identifies and provides full details of the Seller and Purchaser, including their legal capacity to enter into the transaction
2. Background: Sets out the context of the transaction, including the Seller's ownership and intention to sell
3. Definitions: Defines key terms used throughout the deed
4. Property Details: Comprehensive description of the property being sold, including its location, boundaries, and registration details
5. Consideration: States the agreed purchase price and payment terms
6. Transfer Declaration: Formal declaration of transfer of ownership from Seller to Purchaser
7. Seller's Warranties: Warranties regarding property title, encumbrances, and legal status
8. Possession and Title: Details about the transfer of possession and title documents
9. Registration and Stamp Duty: Provisions regarding registration requirements and payment of stamp duty
10. Execution: Formal execution clause and signature requirements
1. Power of Attorney: Required when either party is acting through an authorized representative
2. Encumbrances: Detailed section about existing mortgages, charges, or liens when the property is not free from encumbrances
3. Third Party Rights: Required when there are existing tenants or other third-party rights affecting the property
4. Development Status: Needed for properties under construction or pending development approvals
5. Tax Clearance: Required when specific tax clearances are needed for the transaction
6. Dispute Resolution: Optional clause specifying arbitration or specific court jurisdiction
7. Shariah Compliance: Required when parties want to explicitly ensure compliance with Islamic law principles
1. Property Description Schedule: Detailed technical description of the property including exact measurements, boundaries, and features
2. Title Documents Schedule: List of all title documents being transferred with the property
3. Payment Schedule: If payment is to be made in installments, details of payment plan and dates
4. Encumbrance Schedule: Details of any existing encumbrances, charges, or restrictions on the property
5. Inventory Schedule: List of fixtures, fittings, or other items included in the sale
6. Land Registry Documents: Copies of relevant land registry documentation and certificates
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