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Agreement For Sale Of Property

Agreement For Sale Of Property Template for Belgium

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Key Requirements PROMPT example:

Agreement For Sale Of Property

"I need an Agreement For Sale Of Property for a commercial warehouse in Brussels, with completion scheduled for March 2025, including specific provisions for existing tenant rights and environmental compliance requirements."

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Document background
The Agreement For Sale Of Property is a fundamental legal document used in Belgian real estate transactions to formalize the transfer of property ownership. This document is essential for any property sale in Belgium, whether residential, commercial, or industrial. It must comply with the Belgian Civil Code, regional property regulations, and specific requirements for notarial execution. The agreement includes mandatory elements such as precise property identification, price terms, warranties, and various certificates required by Belgian law (energy performance, soil condition, urban planning compliance). It serves as the foundation for the subsequent notarial deed and must account for Belgium's three distinct regions (Flanders, Wallonia, and Brussels-Capital), each with their specific property regulations.
Suggested Sections

1. Parties: Identification of the seller(s) and buyer(s) with full legal names, addresses, and identification numbers as required by Belgian law

2. Background: Context of the sale and brief description of the property transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including cadastral details, boundaries, and built area as per land registry

5. Purchase Price: Specified purchase price, payment terms, deposit requirements, and payment schedule

6. Transfer of Ownership: Terms regarding the transfer of ownership, including the requirement for notarial deed

7. Seller's Representations and Warranties: Declarations regarding property ownership, absence of encumbrances, and compliance with regulations

8. Property Condition: Statement of property condition, including known defects and compliance with housing codes

9. Notarial Requirements: Provisions regarding the appointment of notary and execution of notarial deed

10. Costs and Taxes: Allocation of transaction costs, registration duties, and other applicable taxes

11. Completion Requirements: Conditions for completion, including required certificates and documentation

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

13. Governing Law and Jurisdiction: Specification of Belgian law as governing law and competent courts

Optional Sections

1. Mortgage Conditions: Include when buyer is obtaining mortgage financing, specifying conditions related to loan approval

2. Tenant Rights: Include when property is currently leased, addressing existing tenancy agreements

3. Renovation Agreement: Include when specific renovations are agreed to be completed before or after sale

4. Environmental Provisions: Include when property has specific environmental considerations or requirements

5. Co-ownership Provisions: Include for apartments or properties with shared facilities

6. Language Provisions: Include when parties require agreement in multiple languages (common in Belgium)

7. Property Management: Include when temporary management arrangements are needed post-sale

8. Utilities Transfer: Include when specific arrangements for utility transfer are required

Suggested Schedules

1. Property Plans: Cadastral plans and property drawings

2. Energy Performance Certificate: Mandatory EPC certificate showing energy efficiency rating

3. Soil Certificate: Certificate regarding soil quality and potential contamination

4. Property Title: Extract from land registry showing title details

5. Urban Planning Certificates: Certificates showing compliance with urban planning regulations

6. Inventory: List of included fixtures, fittings, and contents if applicable

7. Condition Report: Detailed report on property condition and any defects

8. Insurance Certificates: Relevant insurance documentation for the 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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Property
Completion Date
Completion
Deposit
Purchase Price
Transfer Date
Notarial Deed
Cadastral Reference
Land Registry
Mortgage
Encumbrances
Title Deed
Energy Performance Certificate
Soil Certificate
Urban Planning Certificate
Registration Duties
Common Parts
Private Parts
Co-ownership
Building Permits
Easements
Property Rights
Fixtures and Fittings
Completion Requirements
Business Day
Force Majeure
Material Adverse Change
Notary
Parties
Seller
Purchaser
Permitted Use
Planning Laws
Pre-emption Rights
Property Charges
Regional Regulations
Survey Report
Transfer Taxes
Utilities
Warranties
Clauses
Identification of Parties
Property Description
Purchase Price
Payment Terms
Transfer of Title
Representations and Warranties
Property Condition
Notarial Requirements
Registration Requirements
Due Diligence
Environmental Compliance
Urban Planning Compliance
Insurance
Risk Transfer
Default and Remedies
Force Majeure
Costs and Taxes
Notices
Assignment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Disclosure Requirements
Pre-emption Rights
Mortgage Conditions
Property Certificates
Completion Requirements
Post-Completion Obligations
Termination Rights
Relevant Industries

Real Estate

Banking and Finance

Legal Services

Construction

Property Development

Insurance

Public Administration

Urban Planning

Environmental Services

Property Management

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Operations

Risk Management

Investment

Due Diligence

Facilities Management

Relevant Roles

Real Estate Agent

Property Lawyer

Notary

Property Manager

Real Estate Development Manager

Legal Counsel

Compliance Officer

Property Surveyor

Real Estate Investment Manager

Property Portfolio Manager

Transaction Manager

Real Estate Finance Manager

Property Acquisition Specialist

Real Estate Operations Director

Due Diligence Manager

Industries
Belgian Civil Code - Book 3 Property Law: Fundamental rules governing property rights, ownership transfer, and real estate transactions in Belgium. Contains provisions about property rights, transfer of ownership, and contractual obligations related to property sales.
Registration Duties Code: Governs the registration requirements and associated taxes for property transactions. Details the registration duties (registration tax) that must be paid when purchasing property in Belgium.
Notary Law of 16 March 1803: Regulates the role and requirements of notaries in property transactions. In Belgium, property sales must be executed through a notarial deed.
Regional Housing Codes: Each region (Flanders, Wallonia, Brussels-Capital) has its own housing code with specific requirements for property sales, including energy performance certificates and housing quality standards.
Soil Decree: Regional legislation requiring soil certificates for property transactions, particularly important for properties in areas with potential soil contamination.
Urban Planning Codes: Regional regulations governing urban development and land use, which must be considered when selling property, including zoning requirements and building permits.
Money Laundering Prevention Act: Regulations concerning the verification of funds' origin in property transactions and related due diligence requirements.
Energy Performance of Buildings Decree: Requires sellers to provide energy performance certificates (EPC) when selling property, indicating the energy efficiency of the building.
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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