Tripartite Agreement For Sale Of Property Template for Ireland

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Key Requirements PROMPT example:

Tripartite Agreement For Sale Of Property

"I need a Tripartite Agreement for Sale of Property under Irish law for the purchase of a commercial office building in Dublin, where AIB Bank will be providing financing of €2.5M, with completion scheduled for March 2025."

Document background
The Tripartite Agreement For Sale Of Property is a specialized legal document used in Irish property transactions where three parties are involved in the sale and purchase of real estate. This agreement is commonly used when there is a need for a third party's involvement, such as a bank providing financing, a guarantor, or a management company with specific rights or obligations relating to the property. The document ensures compliance with Irish property law, including the Land and Conveyancing Law Reform Act 2009, and addresses specific requirements for property registration, stamp duty, and transfer procedures. It is particularly relevant in complex property transactions where the interests of multiple parties need to be protected and clearly defined. The agreement includes detailed provisions for the property transfer, payment terms, conditions precedent, and the specific roles and obligations of each party involved.
Suggested Sections

1. Parties: Identification and details of all three parties to the agreement - typically the seller, buyer, and third party (such as a bank or guarantor)

2. Background: Context of the transaction, relationship between the parties, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement, including property-specific terminology

4. Sale and Purchase: Core terms of the property sale, including purchase price, deposit requirements, and completion details

5. Property Details: Detailed description of the property being sold, including boundaries and any included fixtures and fittings

6. Third Party Rights and Obligations: Specific rights and obligations of the third party in relation to the transaction

7. Completion Requirements: Requirements and conditions for completion of the sale, including timing and documentation

8. Title and Registration: Provisions regarding property title, registration requirements, and Land Registry procedures

9. Representations and Warranties: Warranties given by each party regarding their capacity, authority, and property condition

10. Payment Terms: Detailed payment arrangements, including method, timing, and any third-party funding conditions

11. Default and Remedies: Consequences of default by any party and available remedies

12. Notices: Requirements for formal communications between parties

13. Governing Law: Confirmation of Irish law as governing law and jurisdiction provisions

14. Execution: Signature blocks for all three parties and witnessing requirements

Optional Sections

1. Planning Permissions: Required when the property requires specific planning permissions or has ongoing planning matters

2. Management Company Provisions: Required for properties in multi-unit developments or managed estates

3. Tenant Provisions: Required when the property is sold subject to existing tenancies

4. Environmental Matters: Required when there are specific environmental considerations or obligations

5. Development Rights: Required when the property has potential for development or existing development rights

6. Third Party Consents: Required when specific third-party consents are needed for the transaction

7. VAT Provisions: Required when the transaction has VAT implications

8. Family Home Protection: Required when the property is or was a family home requiring spousal consent

Suggested Schedules

1. Property Description Schedule: Detailed description of the property, including maps, plans, and boundaries

2. Title Documents: List of title documents and certified copies of relevant documentation

3. Fixtures and Fittings: Inventory of included and excluded fixtures and fittings

4. Planning Documentation: Copies of relevant planning permissions, certificates, and notices

5. Search Results: Results of planning, environmental, and other relevant searches

6. Existing Tenancies: Details of any existing tenancies affecting the property

7. Property Certificates: BER certificates, tax clearance, and other required certificates

8. Deed of Transfer: Form of transfer deed to be executed at completion

9. Payment Schedule: Detailed breakdown of payments, including deposit and completion amounts

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

Banking & Financial Services

Property Development

Construction

Investment Management

Legal Services

Property Management

Commercial Property

Residential Property

Asset Management

Relevant Teams

Legal

Real Estate

Property Management

Finance

Compliance

Risk Management

Investment

Asset Management

Commercial Property

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Commercial Property Director

Legal Counsel

Conveyancing Solicitor

Property Development Manager

Investment Manager

Asset Manager

Banking Relationship Manager

Property Finance Manager

Compliance Officer

Real Estate Portfolio Manager

Transaction Manager

Property Services Director

Risk 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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