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Legal Real Estate Contract
"I need a Legal Real Estate Contract for the purchase of a commercial property in California, with specific environmental compliance clauses and tenant protection provisions, as we're acquiring an occupied office building with potential hazardous materials on site."
1. Parties: Identifies all parties involved in the transaction, including legal names and addresses
2. Background/Recitals: Provides context and purpose of the agreement
3. Definitions: Defines key terms used throughout the contract
4. Property Description: Detailed legal description of the property being transferred
5. Purchase Price: States the agreed purchase price and payment terms
6. Closing Date: Specifies when the transaction will be completed
7. Title and Deed: Details regarding property title transfer and type of deed
8. Representations and Warranties: Statements of fact by both parties about the property and transaction
1. Financing Contingency: Terms related to buyer's ability to secure financing - include when buyer requires mortgage financing
2. Inspection Contingency: Terms related to property inspection rights - include when buyer wants right to inspect before closing
3. Sale Contingency: Makes purchase contingent on sale of buyer's current property - include when buyer needs to sell existing property first
4. Tenant Rights: Details about existing tenants and leases - include when property is currently tenant-occupied
1. Property Survey: Detailed survey of the property boundaries and features
2. Title Report: Current title search results and any exceptions
3. Property Disclosure Statement: Seller's disclosure of property condition and known issues
4. Environmental Reports: Any environmental assessments or reports - particularly important for commercial properties
5. Fixtures and Fittings List: Detailed list of items included/excluded in sale
Authors
Buyer
Seller
Property
Closing Date
Closing
Purchase Price
Deposit
Earnest Money
Effective Date
Title
Deed
Encumbrances
Fixtures
Personal Property
Business Day
Due Diligence Period
Inspection Period
Contingencies
Force Majeure
Permitted Exceptions
Real Property
Settlement Statement
Title Insurance
Title Company
Escrow Agent
Improvements
Zoning Laws
Property Taxes
Prorations
Default
Representations and Warranties
Broker
Notices
Material Adverse Change
Environmental Laws
Hazardous Materials
Governing Law
Survival
Purchase Price and Payment
Title and Conveyance
Due Diligence
Representations and Warranties
Contingencies
Closing Conditions
Default and Remedies
Risk of Loss
Property Inspection
Environmental Compliance
Prorations and Adjustments
Broker Commission
Assignment
Force Majeure
Notices
Governing Law
Dispute Resolution
Severability
Entire Agreement
Indemnification
Property Access
Insurance
Zoning Compliance
Survivability
Time of Essence
Further Assurances
Escrow
Recording
Casualty and Condemnation
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