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Property Installment Sale Agreement
"I need a Property Installment Sale Agreement for a residential apartment in Mumbai, with monthly installments over 5 years starting March 2025, including a 20% down payment and provisions for early payment without penalty."
1. Parties: Identification and details of the seller and purchaser, including their complete addresses and legal capacity
2. Background: Context of the transaction, including brief property history and reason for installment sale arrangement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold, including its location, boundaries, and registration details
5. Purchase Price and Payment Terms: Total purchase price, down payment amount, installment schedule, and payment methods
6. Interest Rate and Calculations: Applicable interest rate on installments and method of calculation
7. Default and Remedies: Consequences of default in payment and available remedies to both parties
8. Transfer of Title: Conditions and timing for the transfer of property title
9. Possession: Terms regarding possession of the property during the installment period
10. Representations and Warranties: Statements and guarantees made by both parties regarding the property and their capacity
11. Maintenance and Expenses: Responsibilities for property maintenance, taxes, and other expenses during the installment period
12. Insurance: Requirements for property insurance and responsibility for premium payments
13. Registration and Stamp Duty: Provisions regarding document registration and payment of applicable stamp duty
14. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction over disputes
15. Notices: Method and addresses for serving legal notices between parties
1. Power of Attorney: Required when either party is appointing a representative to act on their behalf
2. Third-Party Rights: Needed when there are existing tenants or other third-party interests in the property
3. Development Rights: Applicable for properties with potential development or construction opportunities
4. Environmental Compliance: Required for properties in environmentally sensitive areas or with specific environmental concerns
5. Joint Ownership Provisions: Needed when the property is being purchased by multiple buyers
6. Agricultural Land Provisions: Required when the property is agricultural land subject to special regulations
7. Foreign Investment Compliance: Necessary when either party is a foreign national or entity
1. Schedule A - Property Details: Comprehensive property description including exact measurements, boundaries, and survey numbers
2. Schedule B - Payment Schedule: Detailed breakdown of installment amounts, due dates, and payment milestones
3. Schedule C - Property Documents: List of all property documents, including title deeds and previous agreements
4. Schedule D - Encumbrance Certificate: Details of any existing encumbrances or liens on the property
5. Schedule E - Completion Requirements: List of documents and actions required for completing the sale
6. Appendix 1 - Property Photos and Plans: Visual documentation of the property including photographs and architectural plans
7. Appendix 2 - Title Search Report: Detailed report on the property's title history and ownership
8. Appendix 3 - NOCs and Permits: Copies of necessary No Objection Certificates and regulatory permits
Authors
Property
Purchase Price
Down Payment
Installment Payment
Due Date
Interest Rate
Default Interest
Completion Date
Possession Date
Title Deed
Encumbrance
Force Majeure
Business Day
Bank Account
Applicable Law
Completion Documents
Effective Date
Governmental Authority
Improvements
Insurance
Material Adverse Effect
Permitted Use
Property Documents
Registration Authority
Stamp Duty
Transfer Date
Vacant Possession
Working Day
Outgoings
Payment Schedule
Property Tax
Sale Deed
Security Interest
Survey Number
Title Documents
Utilities
Valuation Report
Completion Certificate
Default Notice
Occupancy Certificate
Parties
Seller's Warranties
Purchaser's Warranties
Payment Terms
Default and Remedies
Property Transfer
Title and Ownership
Possession
Registration and Stamp Duty
Insurance
Maintenance and Repairs
Property Tax and Outgoings
Force Majeure
Dispute Resolution
Indemnification
Notices
Assignment
Termination
Governing Law
Severability
Amendment
Entire Agreement
Further Assurance
Compliance with Laws
Due Diligence
Risk of Loss
Environmental Compliance
Third Party Rights
Confidentiality
Survival
Power of Attorney
Inspection Rights
Real Estate
Construction
Banking and Finance
Legal Services
Insurance
Property Development
Agriculture (for agricultural land)
Commercial Property
Residential Property
Industrial Property
Legal
Real Estate
Property Management
Finance
Compliance
Risk Management
Documentation
Sales
Business Development
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Financial Advisor
Mortgage Specialist
Real Estate Broker
Compliance Officer
Contract Manager
Property Valuation Expert
Title Search Officer
Real Estate Investment Manager
Property Documentation Specialist
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