Contract To Sell Condo Template for England and Wales

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Key Requirements PROMPT example:

Contract To Sell Condo

"I need a Contract To Sell Condo for a newly built luxury apartment in central London, with completion scheduled for March 2025, including specific provisions for high-end fixtures and fittings worth £50,000, and incorporating EWS1 form requirements."

Document background
A Contract To Sell Condo is essential for any condominium sale transaction in England and Wales. This document is used when transferring ownership of a leasehold flat or apartment, ensuring compliance with English property law. The contract includes crucial details such as property description, purchase price, completion timeline, and both parties' obligations. It addresses specific requirements for leasehold properties, including service charges, ground rent, and management company arrangements. The document should be tailored to account for building-specific requirements, especially following recent legislative changes regarding building safety and leasehold reform.
Suggested Sections

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

2. Background: Context of the sale and property ownership status

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including address and registered title number

5. Purchase Price: Agreed purchase price and payment terms

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

7. Title Guarantee: Seller's warranties regarding property title

Optional Sections

1. Deposit Terms: Details of deposit payment, applicable when deposit is required as part of the transaction

2. Mortgage Contingency: Conditions related to buyer's mortgage arrangement, used when buyer requires mortgage financing

3. Vacant Possession: Terms regarding property vacancy, applicable when property is currently occupied

Suggested Schedules

1. Schedule 1: Property Details: Detailed property specification including floor plans and boundaries

2. Schedule 2: Fixtures and Fittings: List of included and excluded items in the sale

3. Schedule 3: Service Charges: Details of ongoing service charges and ground rent

4. Appendix A: Property Title Documents: Copies of relevant title documents and registers

5. Appendix B: Building Safety Certificate: Safety certificates and compliance documents

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
Relevant Teams
Relevant Roles
Industries

Law of Property Act 1925: Primary legislation defining legal estates and interests in land, and setting out fundamental requirements for property transfers in England and Wales

Land Registration Act 2002: Governs the registration of land/property and details specific requirements for transfer of registered property

Housing Act 1985 and 2004: Establishes standards for residential properties and includes essential safety requirements for housing

Consumer Protection from Unfair Trading Regulations 2008: Mandates honest marketing/selling practices and requires disclosure of material information in property transactions

Commonhold and Leasehold Reform Act 2002: Governs leasehold properties and defines the rights and obligations of leaseholders

Building Safety Act 2022: Establishes new requirements for high-rise buildings including safety certificates and documentation

Landlord and Tenant Act 1985: Regulates service charges and management company obligations in residential properties

Consumer Rights Act 2015: Ensures fair contract terms and provides consumer protection provisions in property transactions

Money Laundering Regulations 2017: Mandates identity verification requirements and source of funds checks 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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