Standard Real Estate Contract Template for England and Wales

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Key Requirements PROMPT example:

Standard Real Estate Contract

"I need a Standard Real Estate Contract for the purchase of a commercial warehouse property in Manchester, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and environmental warranties."

Document background
The Standard Real Estate Contract serves as the foundational document for property transactions in England and Wales. It is used when transferring ownership of real property, whether residential or commercial, and ensures compliance with all relevant property legislation. The contract includes essential elements such as property description, purchase price, completion dates, and warranties, while incorporating necessary protections for both parties. This document is crucial for establishing clear terms and conditions of sale, and must comply with specific requirements under English and Welsh property law.
Suggested Sections

1. Parties: Details of the buyer and seller

2. Background: Context of the transaction

3. Definitions: Key terms used throughout the contract

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

5. Purchase Price: Amount and payment terms

6. Completion Date: Date for completion of the sale

7. Title Guarantee: Extent of title guarantee provided by seller

8. Vacant Possession: Conditions of property transfer

Optional Sections

1. Fixtures and Fittings: Details of included/excluded items when specific items need to be included or excluded from sale

2. Planning Permissions: Details of existing permissions when property has specific planning conditions or permissions

3. Environmental Matters: Environmental issues and warranties when environmental concerns exist

4. Tenant Provisions: Details of existing tenancies when property is sold subject to tenancies

Suggested Schedules

1. Property Plan: Land Registry compliant plan of the property

2. Fixtures and Fittings Inventory: Detailed list of included/excluded items

3. Title Documents: Copies of relevant title documents

4. Property Information Form: Standard form providing detailed property information

5. Fittings and Contents Form: Standard form detailing what is included in sale

6. Energy Performance Certificate: Mandatory energy efficiency assessment

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
Relevant Teams
Relevant Roles
Industries

Law of Property Act 1925: Core legislation establishing fundamental land law principles, requirements for land contracts, and defining legal estates and interests in land

Land Registration Act 2002: Governs the registration of land ownership, sets requirements for registration, establishes priority of interests, and provides framework for title protection

Law of Property (Miscellaneous Provisions) Act 1989: Establishes formal requirements for property contracts including Section 2 which requires contracts to be in writing and meet specific validity requirements

Consumer Rights Act 2015: Protects consumer interests in property transactions, including provisions regarding unfair contract terms when one party is a consumer

Landlord and Tenant Act 1985: Sets out property conditions standards and fundamental landlord obligations in residential property transactions

Housing Act 2004: Establishes property standards and health and safety requirements for residential properties

Money Laundering Regulations 2017: Mandates due diligence requirements and identity verification procedures in property transactions to prevent money laundering

Stamp Duty Land Tax Act 2003: Outlines tax implications and payment obligations for property transactions in England and Wales

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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