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Land Buying Agreement
"I need a Land Buying Agreement for purchasing a 5-acre agricultural plot in Karnataka, India, from an individual seller, with completion planned for March 2025, including special provisions for existing farming arrangements and water rights."
1. Parties: Identification and details of the seller and purchaser, including their legal capacity to enter into the agreement
2. Background: Context of the transaction, including brief property history and purpose of the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the property being sold, including its boundaries and measurements
5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments
6. Payment Structure: Breakdown of payment instalments, earnest money, and balance payment details
7. Title and Ownership: Seller's declarations regarding clear title and ownership rights
8. Representations and Warranties: Seller's representations about the property's legal status, encumbrances, and compliance
9. Covenants: Obligations of both parties before and after the sale
10. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
11. Completion: Process and requirements for completing the sale transaction
12. Registration and Transfer: Requirements and process for property registration and transfer
13. Possession: Terms and conditions for handling over property possession
14. Default and Remedies: Consequences of default by either party and available remedies
15. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
16. Notices: Method and addresses for serving notices between parties
17. Force Majeure: Provisions for unforeseen circumstances preventing performance
18. Execution: Signature clauses and execution formalities
1. Agricultural Land Compliance: Required when the land is agricultural, covering necessary permissions and land ceiling compliance
2. Development Rights: Used when transferring or reserving development rights or TDR certificates
3. Environmental Compliance: Required when the property is in an environmentally sensitive zone or requires environmental clearances
4. Foreign Investment Provisions: Required when either party is a foreign national or NRI, ensuring FEMA compliance
5. Existing Tenancies: Required when the property has existing tenants or occupants
6. Power of Attorney: Required when either party is acting through an attorney
7. Joint Development Rights: Used when the agreement includes future development arrangements
8. Mortgage or Encumbrance Resolution: Required when the property has existing mortgages or encumbrances to be cleared
9. Tax Implications: Detailed section on tax responsibilities when complex tax implications are involved
1. Schedule A - Property Description: Detailed description of the property including exact measurements, boundaries, and survey numbers
2. Schedule B - Title Documents: List of all title documents and their chain of custody
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms, instalments, and due dates
4. Schedule D - Encumbrances: List of existing encumbrances, if any, and their status
5. Schedule E - Property Documents: List of all property-related documents to be handed over
6. Schedule F - Permissions and Approvals: List of all necessary governmental approvals and permissions
7. Schedule G - Property Tax Details: Details of property tax payments and pending dues
8. Appendix 1 - Site Plan: Approved site plan and property drawings
9. Appendix 2 - Land Use Certificate: Current land use certification and zoning details
10. Appendix 3 - Previous Deeds: Copies of previous sale deeds and transfer documents
Authors
Sale and Purchase
Property Description
Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Conditions Precedent
Due Diligence
Covenants
Registration
Possession
Transfer of Rights
Encumbrances
Property Documents
Statutory Compliance
Environmental Compliance
Land Use
Development Rights
Tax Obligations
Default and Remedies
Indemnification
Force Majeure
Assignment
Severability
Dispute Resolution
Governing Law
Jurisdiction
Notices
Costs and Expenses
Entire Agreement
Amendment
Waiver
Execution
Real Estate
Agriculture
Industrial Development
Commercial Development
Residential Development
Infrastructure
Hospitality
Retail
Manufacturing
Logistics
Education
Healthcare
Special Economic Zones
Urban Development
Rural Development
Legal
Real Estate
Compliance
Finance
Business Development
Project Development
Risk Management
Property Management
Investment
Corporate Affairs
Operations
Administration
Strategy
Facilities Management
Legal Counsel
Property Manager
Real Estate Developer
Land Acquisition Manager
Compliance Officer
Real Estate Attorney
Property Lawyer
Business Development Manager
Project Manager
Chief Financial Officer
Investment Manager
Real Estate Consultant
Urban Planner
Property Valuation Expert
Title Research Specialist
Corporate Counsel
Risk Manager
Development Director
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