Land Only Purchase Agreement Template for Canada

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Key Requirements PROMPT example:

Land Only Purchase Agreement

"I need a Land Only Purchase Agreement for acquiring a 50-acre undeveloped parcel in British Columbia for commercial development, with specific provisions for environmental assessment and future rezoning requirements, closing date targeted for March 2025."

Document background
The Land Only Purchase Agreement is a specialized legal instrument used in Canadian real estate transactions specifically for the purchase and sale of undeveloped land. This document is essential when parties wish to transfer ownership of vacant land, whether for development, investment, or other purposes. It differs from standard real estate purchase agreements by focusing on unique aspects of undeveloped land transactions, including environmental assessments, zoning requirements, and development potential. The agreement must comply with both federal and provincial legislation, including specific provincial land transfer acts, environmental protection laws, and municipal zoning regulations. It is particularly crucial for ensuring proper due diligence regarding land use restrictions, environmental concerns, and title issues that are unique to undeveloped properties. The document serves diverse needs across multiple sectors, from agricultural land acquisitions to commercial development projects.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses

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

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Property Description: Detailed legal description of the land, including boundaries, easements, and rights of way

5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements

6. Deposit: Details of the deposit amount, payment schedule, and handling of funds

7. Due Diligence: Purchaser's rights and timeframes for property investigation and satisfaction of conditions

8. Closing Conditions: Conditions that must be satisfied before the transaction can complete

9. Representations and Warranties: Statements of fact by both parties regarding the property and their capacity to enter into the agreement

10. Closing Requirements: Documents and actions required from each party to complete the transaction

11. Adjustments: How property taxes and other expenses will be prorated between parties

12. Default and Remedies: Consequences of breach and available remedies for either party

13. Notices: How and where formal communications between parties should be delivered

14. General Provisions: Standard legal clauses including governing law, assignment, and entire agreement

Optional Sections

1. Environmental Matters: Required when there are known or potential environmental concerns or when environmental investigations are needed

2. Planning and Development: Include when the purchase is contingent on specific development or zoning approvals

3. First Nations Considerations: Required when the property is on or near First Nations lands or subject to land claims

4. Agricultural Land Provisions: Include when the property is designated agricultural land or subject to agricultural land restrictions

5. Survey Requirements: Include when a new survey is required or when existing survey issues need to be addressed

6. Wells and Water Rights: Required when the property includes water rights or wells

7. Mineral Rights: Include when mineral rights are included or specifically excluded from the sale

8. Access and Road Maintenance: Required for properties with shared access or private road maintenance agreements

Suggested Schedules

1. Schedule A - Legal Description: Detailed legal description of the property including PIN/PID numbers and registry details

2. Schedule B - Permitted Encumbrances: List of accepted encumbrances that will remain on title after closing

3. Schedule C - Property Disclosure Statement: Vendor's disclosure of known property conditions and issues

4. Schedule D - Environmental Reports: Any environmental assessments or reports relating to the property

5. Schedule E - Site Plan: Survey or site plan showing property boundaries and key features

6. Schedule F - Title Search Results: Current title search showing registered interests on the property

7. Appendix 1 - Form of Transfer/Deed: Template of the transfer document to be used at closing

8. Appendix 2 - Closing Documents Checklist: List of required documents and deliverables for closing

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Agriculture

Commercial Development

Industrial Development

Residential Development

Mining

Forestry

Renewable Energy

Infrastructure

Tourism and Hospitality

Investment and Finance

Environmental Services

Relevant Teams

Legal

Real Estate

Property Development

Investment

Environmental Compliance

Finance

Risk Management

Operations

Business Development

Acquisitions

Due Diligence

Corporate Strategy

Relevant Roles

Real Estate Lawyer

Property Developer

Land Acquisition Manager

Real Estate Agent

Environmental Consultant

Property Investment Manager

Development Director

Commercial Real Estate Broker

Legal Counsel

Land Surveyor

Municipal Planning Officer

Real Estate Investment Analyst

Agricultural Land Manager

Project Manager

Chief Financial Officer

Real Estate Portfolio Manager

Industries
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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