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Purchase Agreement Improved Property
"I need a Purchase Agreement for Improved Property for acquiring a commercial warehouse in Dubai Industrial City, with completion scheduled for March 2025 and including provisions for existing tenant arrangements to be maintained post-completion."
1. Parties: Identification of the Seller and Purchaser with full legal names and details
2. Background: Context of the transaction and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price
5. Property Description: Detailed description of the property including title details and registration information
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price and payment schedule
7. Completion: Requirements and procedures for completing the transaction
8. Seller's Warranties: Warranties regarding property ownership, condition, and compliance with laws
9. Purchaser's Warranties: Warranties regarding capacity to purchase and source of funds
10. Registration and Transfer: Procedures for property registration and transfer of ownership
11. Costs and Taxes: Allocation of transaction costs, fees, and applicable taxes
12. Default and Termination: Consequences of default and termination rights
13. Notices: Process for giving formal notices under the agreement
14. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction
15. General Provisions: Standard boilerplate provisions including entire agreement, amendments, etc.
1. Financing Arrangements: Include when purchase involves mortgage or other financing
2. Condition Precedents: Include when completion is subject to specific conditions being met
3. Property Management: Include when there are interim management arrangements between signing and completion
4. Tenant Rights: Include when property is subject to existing tenancies
5. Service Contracts: Include when property has ongoing service contracts to be transferred
6. Environmental Matters: Include for industrial or commercial properties with potential environmental concerns
7. Development Rights: Include when property has unused development rights or pending applications
8. Escrow Arrangements: Include when payment is handled through escrow
9. Post-Completion Obligations: Include when parties have continuing obligations after completion
1. Property Details: Detailed technical description of the property including plans and measurements
2. Title Documents: List of title documents and ownership history
3. Fixtures and Fittings: Inventory of included and excluded items
4. Payment Schedule: Detailed breakdown of payment installments and timing
5. Form of Transfer: Template transfer documents required by UAE authorities
6. Property Certificates: Copies of relevant certificates and permits
7. Service Contracts: List and copies of transferable service contracts
8. Completion Requirements: Checklist of documents and actions required for completion
9. Property Condition Report: Current condition assessment and any identified defects
Authors
Approvals
Business Day
Completion
Completion Date
Completion Payment
Deposit
DLD
Encumbrance
Fixtures
Improved Property
Land
Municipality
NOC
Parties
Payment Schedule
Property Title Deed
Purchase Price
Purchaser
Registration Fee
RERA
Seller
Service Charge
Structure
Title Documents
Transfer Date
Transfer Fee
UAE Dirham
Utility Services
Warranties
Sale and Purchase
Purchase Price
Payment Terms
Deposit
Property Description
Title
Due Diligence
Representations and Warranties
Seller Obligations
Purchaser Obligations
Completion
Property Registration
Transfer of Ownership
Costs and Taxes
Risk and Insurance
Default
Termination
Force Majeure
Entire Agreement
Assignment
Confidentiality
Notices
Governing Law
Dispute Resolution
Severability
Amendment
Waiver
Third Party Rights
Counterparts
Real Estate
Banking & Finance
Hospitality
Retail
Healthcare
Education
Industrial & Manufacturing
Commercial Office
Residential Development
Logistics & Warehousing
Legal
Real Estate
Finance
Compliance
Operations
Risk Management
Facilities Management
Corporate Development
Investment
Property Management
Real Estate Manager
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Director
Acquisitions Manager
Facilities Manager
Asset Manager
Investment Manager
Chief Financial Officer
Real Estate Agent
Property Developer
Compliance Officer
Risk Manager
Operations Director
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