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Assignment Of Purchase And Sale Agreement
"I need an Assignment of Purchase and Sale Agreement for transferring my rights as buyer of a residential property in Mumbai to a new buyer, with completion scheduled for March 15, 2025, and I need to include specific conditions about outstanding mortgage payments."
1. Parties: Identifies and defines the Assignor (original buyer), Assignee (new buyer), and the Seller from the original purchase agreement
2. Background: Recitals explaining the original purchase agreement and the intention to assign the rights and obligations
3. Definitions: Defines key terms used throughout the agreement, including reference to the original purchase agreement
4. Assignment: Core clause transferring all rights, title, and interest from the Assignor to the Assignee
5. Consideration: Details of the consideration paid by the Assignee to the Assignor for the assignment
6. Assignor's Representations and Warranties: Warranties regarding the validity of the original agreement and Assignor's right to assign
7. Assignee's Covenants: Assignee's commitment to perform all obligations under the original purchase agreement
8. Seller's Consent: Acknowledgment and consent from the original seller to the assignment
9. Effective Date and Conditions: When the assignment takes effect and any conditions that must be met
10. Governing Law and Jurisdiction: Specifies Indian law as governing law and defines jurisdiction for disputes
11. Execution: Signature blocks and execution formalities
1. Further Assurance: Commitment to execute additional documents if needed - include when complex property or regulatory approvals involved
2. Partial Assignment: Include when only certain rights or obligations are being assigned rather than the entire agreement
3. Indemnification: Include when specific indemnities are required beyond standard representations
4. Novation Provisions: Include when the assignment requires a complete transfer of both rights and obligations with release of the assignor
5. Confidentiality: Include when sensitive commercial information is involved
6. Costs and Expenses: Include when there's a need to specify responsibility for assignment-related costs
7. Notice Requirements: Include when specific notice procedures for the assignment need to be detailed
1. Schedule 1 - Original Purchase and Sale Agreement: Copy of the original agreement being assigned
2. Schedule 2 - Property Details: Detailed description of the property or assets covered by the original agreement
3. Schedule 3 - Outstanding Obligations: List of remaining obligations under the original agreement
4. Schedule 4 - Seller's Consent Letter: Formal written consent from the original seller
5. Schedule 5 - Payment Details: Details of consideration and payment terms for the assignment
6. Appendix A - Required Regulatory Approvals: List of any regulatory approvals needed for the assignment
7. Appendix B - Completion Documents: List of documents required to complete the assignment
Authors
Assignment Date
Assignor
Assignee
Original Purchase Agreement
Original Seller
Property
Completion
Completion Date
Consideration
Effective Date
Encumbrance
Governmental Authority
Law
Liabilities
Original Purchase Price
Parties
Permitted Assigns
Registration Authority
Related Documents
Rights and Obligations
Stamp Duty
Title Documents
Transfer
Working Day
Representations and Warranties
Consent Letter
Outstanding Obligations
Completion Requirements
Default
Force Majeure
Governing Law
Notices
Consideration
Representations and Warranties
Conditions Precedent
Consent
Completion
Further Assurance
Indemnification
Governing Law
Dispute Resolution
Notices
Force Majeure
Confidentiality
Costs and Expenses
Severability
Entire Agreement
Amendment
Waiver
Assignment Restrictions
Third Party Rights
Counterparts
Stamp Duty
Registration
Time of Essence
Survival
Real Estate
Commercial Property
Residential Property
Industrial Property
Infrastructure
Construction
Manufacturing
Retail
Hospitality
Agriculture
Legal
Real Estate
Commercial
Compliance
Property Management
Business Development
Corporate Affairs
Operations
Finance
Risk Management
Legal Counsel
Property Manager
Real Estate Manager
Contract Administrator
Business Development Manager
Commercial Director
Property Developer
Investment Manager
Compliance Officer
Company Secretary
Real Estate Agent
Asset Manager
Transaction Manager
Project Manager
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