Conditional Deed Of Sale Template for Pakistan

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Key Requirements PROMPT example:

Conditional Deed Of Sale

"I need a Conditional Deed of Sale for a commercial property in Lahore, Pakistan, where the sale is contingent on obtaining necessary zoning permits by March 2025, with a purchase price of 50 million PKR to be paid in three installments."

Document background
The Conditional Deed of Sale is a crucial legal instrument in Pakistani property transactions where parties wish to enter into a binding agreement subject to certain conditions being met. This document type is commonly used when buyers require time to arrange financing, when property requires development or regulatory approvals, or when either party needs to fulfill specific obligations before the sale can be completed. The deed must comply with Pakistani legislation, particularly the Transfer of Property Act 1882 and Contract Act 1872, and requires proper registration under the Registration Act 1908. It provides a structured framework for conditional property sales while protecting both parties' interests during the interim period before conditions are fulfilled.
Suggested Sections

1. Parties: Identification and details of the Seller and Buyer, including full legal names, addresses, and registration details if companies

2. Background: Context of the sale, brief description of the property, and intention to enter into a conditional sale arrangement

3. Definitions: Key terms used throughout the deed including Property, Completion Date, Purchase Price, Conditions Precedent

4. Sale and Purchase: Core agreement to sell and purchase the property subject to conditions

5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods

6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes absolute

7. Completion: Process and requirements for completing the sale once conditions are met

8. Seller's Warranties: Warranties regarding property title, encumbrances, and authority to sell

9. Property Possession: Terms regarding possession, maintenance, and risk until completion

10. Default and Remedies: Consequences of default by either party and available remedies

11. Notices: Process and requirements for serving notices under the deed

12. Governing Law: Confirmation of Pakistani law as governing law and jurisdiction

13. Execution: Formal execution block for parties' signatures and witnesses

Optional Sections

1. Deposit Terms: Used when a deposit is required, detailing amount, payment terms, and handling

2. Third Party Rights: Include when there are existing tenants or other third-party interests in the property

3. Due Diligence: When buyer requires specific due diligence rights and process

4. Environmental Matters: For industrial or commercial properties where environmental conditions are relevant

5. Development Rights: When the property has potential development value or existing planning permissions

6. Assignment: If parties want to allow/restrict the ability to assign rights under the deed

7. Force Majeure: When parties want specific provisions for unforeseen circumstances

8. Confidentiality: For high-value or sensitive transactions requiring confidentiality

Suggested Schedules

1. Property Description: Detailed legal description of the property including boundaries, measurements, and registration details

2. Payment Schedule: Detailed breakdown of payment installments and dates

3. Conditions Precedent Details: Comprehensive list of all conditions and their fulfillment requirements

4. Title Documents: List of all title documents and their copies

5. Existing Encumbrances: Details of any existing mortgages, charges, or other encumbrances

6. Property Inventory: For sales including fixtures, fittings, or other movable property

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

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Relevant Industries

Real Estate

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Legal

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Property Management

Corporate Affairs

Risk Management

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Acquisitions

Investment

Documentation

Relevant Roles

Property Lawyer

Real Estate Manager

Legal Counsel

Property Developer

Land Acquisition Manager

Compliance Officer

Real Estate Agent

Property Investment Manager

Contract Manager

Legal Director

Property Portfolio Manager

Corporate Lawyer

Real Estate Director

Industries
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