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Lot Sale Agreement
"I need a Lot Sale Agreement for the sale of a residential plot in Dubai Marina to a local UAE resident, with completion scheduled for March 2025 and payment to be made in three installments."
1. Parties: Identification of the Seller and Buyer with full legal names and details
2. Background: Context of the sale and brief description of the property
3. Definitions: Defined terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the lot, including the purchase price
5. Property Description: Detailed description of the lot including boundaries and registered details
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price and payment schedule
7. Completion: Requirements and process for completing the sale
8. Title and Registration: Provisions regarding transfer of title and registration requirements
9. Seller's Warranties: Warranties regarding ownership, encumbrances, and property condition
10. Buyer's Warranties: Warranties regarding capacity to purchase and funding
11. Pre-Completion Obligations: Obligations of both parties before completion
12. Default and Termination: Consequences of default and termination rights
13. Notices: Process for giving formal notices under the agreement
14. Governing Law and Jurisdiction: Specification of UAE law and jurisdiction
15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, etc.
1. Conditions Precedent: Used when completion is subject to specific conditions being met
2. Development Obligations: Required when the lot is part of a development with specific requirements
3. Foreign Ownership Provisions: Required when the buyer is a foreign national or entity
4. Mortgage Requirements: Included when the purchase involves mortgage financing
5. Property Management: Required when the lot is part of a managed community
6. Service Charges: Included when there are ongoing service charges or maintenance fees
7. Environmental Matters: Required when there are specific environmental considerations or requirements
8. Planning and Zoning: Included when there are specific planning or zoning requirements affecting the lot
1. Property Plan: Detailed plan showing the lot boundaries and location
2. Title Documents: Copies of relevant title documents and certificates
3. Payment Schedule: Detailed breakdown of payment installments and dates
4. Property Disclosure Statement: Detailed disclosure of property condition and known issues
5. Development Rules: If applicable, rules and regulations of the development
6. Service Charge Schedule: If applicable, breakdown of service charges and maintenance fees
7. Form of Transfer: Template transfer documents required by the Land Department
8. Required Permits: Copies of relevant permits and approvals
Authors
Applicable Laws
Business Day
Buyer
Completion
Completion Date
Deposit
Development
Encumbrance
Land Department
Lot
Master Community
Municipality
Notice
Parties
Payment Schedule
Permitted Use
Property
Purchase Price
RERA
Sale
Seller
Service Charges
Title Deed
Transfer Date
Transfer Fee
UAE
Utility Services
Vacant Possession
Warranties
Zoning Requirements
Registration
Escrow Account
Property Plan
Handover
Force Majeure
Dispute
Governing Law
Material Adverse Effect
Termination Event
Regulatory Authority
Due Diligence
Conditions Precedent
Completion Certificate
Default Event
Development Control Regulations
Property Description
Purchase Price
Payment Terms
Title Transfer
Registration
Completion
Conditions Precedent
Representations and Warranties
Due Diligence
Property Inspection
Seller Obligations
Buyer Obligations
Default
Termination
Risk and Insurance
Assignment
Force Majeure
Notices
Governing Law
Dispute Resolution
Entire Agreement
Amendments
Severability
Costs and Expenses
Confidentiality
Further Assurance
Property Maintenance
Development Requirements
Zoning Compliance
Environmental Compliance
Service Charges
Utilities
Access Rights
Land Use
Foreign Ownership
Escrow Arrangements
Property Handover
Survival
Waiver
Time of Essence
Real Estate
Property Development
Construction
Urban Planning
Legal Services
Banking and Finance
Investment
Real Estate Investment Trusts (REITs)
Property Management
Urban Development
Legal
Real Estate
Property Development
Sales
Compliance
Operations
Investment
Land Acquisition
Contract Administration
Property Management
Real Estate Manager
Property Developer
Legal Counsel
Conveyancing Lawyer
Real Estate Agent
Property Investment Manager
Development Director
Land Acquisition Manager
Compliance Officer
Real Estate Transaction Manager
Urban Planning Manager
Property Sales Director
Real Estate Operations Manager
Legal Director
Contract Manager
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