Sell Contract For Deed Template for Canada

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Key Requirements PROMPT example:

Sell Contract For Deed

"I need a Sell Contract For Deed for a commercial warehouse property in Ontario, with a purchase price of $2.5M, requiring 15% down payment and monthly installments over 10 years starting March 1, 2025, with the buyer responsible for all property taxes and insurance."

Document background
The Sell Contract For Deed is a crucial legal document used in Canadian real estate transactions where traditional mortgage financing is not the preferred or available option. This agreement is particularly relevant when sellers wish to finance the purchase directly, maintaining legal title until the buyer completes all payments. The document encompasses critical elements including property description, payment terms, maintenance responsibilities, default remedies, and conditions for title transfer. It must adhere to provincial property laws and federal regulations, particularly regarding interest rates and consumer protection. The agreement is commonly used in situations involving commercial properties, agricultural lands, or residential real estate where conventional financing may be challenging to obtain. It provides security for the seller while giving the buyer immediate possession and the opportunity to build equity.
Suggested Sections

1. Parties: Identifies and provides full legal names and addresses of the vendor and vendee

2. Background: Explains the context of the agreement, confirms vendor's ownership and vendee's interest in purchasing

3. Definitions: Defines key terms used throughout the agreement

4. Property Description: Detailed legal description of the property being sold

5. Purchase Price and Payment Terms: Specifies total purchase price, down payment, regular payment amounts, payment schedule, and interest rate

6. Title and Possession: Outlines when and how title will transfer, and conditions for possession

7. Vendor's Representations and Warranties: Vendor's assurances about property condition, title, and authority to sell

8. Vendee's Covenants: Vendee's obligations including maintenance, insurance, property tax payments, and use restrictions

9. Default and Remedies: Consequences of default by either party and available remedies

10. Insurance Requirements: Specifies required property insurance and responsibility for maintaining coverage

11. Property Taxes and Assessments: Allocation of responsibility for property taxes and special assessments

12. Assignment and Transfer: Restrictions on selling or transferring rights under the agreement

13. Notice Requirements: How and where formal notices must be delivered

14. Governing Law: Specifies applicable Canadian provincial law

15. Execution: Signature blocks and witness requirements

Optional Sections

1. Shared Utilities: Required when property shares utilities with other properties or has special utility arrangements

2. Existing Tenancies: Needed when property has current tenants who will remain after sale

3. Environmental Matters: Required for properties with known environmental issues or in environmentally sensitive areas

4. Property Management: Used when specific management requirements exist for multi-unit or commercial properties

5. First Nations Considerations: Required when property is on or adjacent to First Nations lands

6. Agricultural Use Provisions: Needed for farmland or properties with agricultural components

7. Mineral Rights: Required when mineral rights are being retained or separately transferred

8. Access Easements: Needed when property requires easements for access or utilities

Suggested Schedules

1. Schedule A - Legal Description: Detailed legal description of the property including survey references

2. Schedule B - Payment Schedule: Amortization schedule showing all payments, principal, and interest allocations

3. Schedule C - Permitted Encumbrances: List of accepted liens, easements, or other encumbrances on the property

4. Schedule D - Property Inspection Report: Current condition report with photographs and noted deficiencies

5. Schedule E - Included Fixtures and Chattels: Itemized list of included personal property and fixtures

6. Appendix 1 - Property Tax Certificates: Current tax certificates showing any arrears or special assessments

7. Appendix 2 - Insurance Certificates: Proof of required insurance coverage

8. Appendix 3 - Site Plans: Property plans showing boundaries, structures, and significant features

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

Clauses
Relevant Industries

Real Estate

Property Development

Agriculture

Commercial Property

Residential Property

Construction

Banking and Finance

Legal Services

Insurance

Land Development

Property Management

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Contract Administration

Business Development

Investment

Operations

Document Management

Transaction Processing

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Contract Administrator

Real Estate Developer

Land Development Manager

Title Officer

Compliance Officer

Risk Manager

Real Estate Investment Manager

Property Development Director

Legal Document Specialist

Real Estate Transaction Coordinator

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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