Deed Of Conditional Sale Template for Pakistan

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Key Requirements PROMPT example:

Deed Of Conditional Sale

"I need a Deed of Conditional Sale for a commercial property in Lahore, Pakistan, where the sale is conditional upon obtaining all necessary regulatory approvals by March 2025, with the purchase price to be paid in three installments."

Document background
The Deed of Conditional Sale is a crucial legal instrument in Pakistani property transactions where the completion of sale is contingent upon fulfilling certain conditions. This document is commonly used when parties wish to enter into a binding agreement for property transfer but need to satisfy specific requirements before the sale can be completed, such as obtaining regulatory approvals, securing financing, or resolving title issues. The deed must comply with the Transfer of Property Act 1882, Registration Act 1908, and other relevant Pakistani laws. It provides a structured framework for conditional property sales, protecting both parties' interests during the interim period between agreement and final transfer. The document is particularly valuable in complex property transactions where immediate complete transfer is not feasible or desirable.
Suggested Sections

1. Parties: Identification and details of the Seller and Purchaser, including their complete names, addresses, and CNIC numbers

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

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

4. Property Details: Comprehensive description of the property being sold, including its location, boundaries, and registration details

5. Sale Consideration: Details of the purchase price, payment terms, and method of payment

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

7. Time for Fulfillment: Timeline within which the conditions must be satisfied

8. Possession and Risk: Terms regarding possession of the property and allocation of risk during the conditional period

9. Seller's Covenants: Warranties and undertakings provided by the seller regarding the property

10. Purchaser's Covenants: Obligations and undertakings of the purchaser

11. Completion: Process and requirements for completing the sale once conditions are fulfilled

12. Default and Remedies: Consequences of breach and available remedies to parties

13. Execution: Formal execution clause and witness requirements

Optional Sections

1. Third Party Rights: Section dealing with rights of third parties, used when there are existing tenants or other interests in the property

2. Islamic Finance Compliance: Additional provisions ensuring compliance with Islamic law, used when the transaction needs to be Shariah-compliant

3. Power of Attorney: Authorization provisions, used when either party is acting through an agent

4. Tax Matters: Specific tax-related provisions, used when there are complex tax implications

5. Development Rights: Provisions regarding future development of the property, used for undeveloped or partially developed properties

6. Utilities and Services: Provisions regarding transfer of utilities and services, used for developed properties

7. Dispute Resolution: Specific dispute resolution mechanisms, used when parties want to specify arbitration or mediation procedures

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including measurements, boundaries, and any easements

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

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

4. Conditions Precedent: Detailed list of conditions that must be fulfilled before sale completion

5. Outstanding Liabilities: List of any existing charges, mortgages, or liabilities on the property

6. Property Inspection Report: Technical report on the condition of the property

7. Completion Requirements: Checklist of documents and actions required for completion

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 Industries

Real Estate

Construction

Banking & Finance

Housing Development

Commercial Property

Industrial Property

Agricultural Land

Retail

Hospitality

Manufacturing

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Affairs

Risk Management

Operations

Finance

Administration

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Compliance Officer

Property Developer

Real Estate Agent

Land Administrator

Contract Manager

Corporate Lawyer

Property Investment Manager

Land Revenue Officer

Registration Officer

Property Consultant

Real Estate 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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