The Agreement To Sell Immovable Property is a fundamental legal document used in Canadian real estate transactions to formalize the sale and purchase of real property. This document is essential when any party wishes to transfer ownership of immovable property, whether for residential, commercial, or industrial purposes. It must comply with provincial and federal regulations governing real estate transactions in Canada, including requirements under the Land Titles Act, Property Law Act, and relevant consumer protection legislation. The agreement includes comprehensive details about the property, parties involved, purchase price, payment terms, conditions of sale, and closing requirements. It serves as the primary reference document throughout the transaction process and forms the basis for the eventual transfer of title. The document is typically prepared following initial negotiations and remains in effect until the closing date when the property transfer is completed.
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1. Parties: Identifies and provides full legal names and addresses of the vendor and purchaser
2. Background: Establishes the context of the agreement, including a brief description of the property and the parties' intention to enter into a purchase and sale transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Description: Detailed legal description of the property including lot number, plan, and municipal address
5. Purchase Price: States the total purchase price and breaks down the deposit, balance, and payment terms
6. Deposit: Specifies the amount, payment terms, and handling of the deposit
7. Closing: Details the closing date, time, and location for completion of the transaction
8. Title: Warranties regarding clear title and process for title search and insurance
9. Representations and Warranties: Standard representations and warranties from both vendor and purchaser
10. Conditions Precedent: Lists conditions that must be satisfied before closing
11. Vendor's Covenants: Obligations of the vendor prior to and at closing
12. Purchaser's Covenants: Obligations of the purchaser prior to and at closing
13. Risk: Allocation of risk and responsibility for the property until closing
14. Default: Consequences and remedies in case either party defaults
15. Notices: How and where formal notices under the agreement must be delivered
16. General Provisions: Standard boilerplate clauses including entire agreement, amendment, and governing law
17. Execution: Signature blocks and execution requirements
1. Financing Condition: Used when purchaser requires mortgage financing to complete the purchase
2. Property Inspection: Used when purchaser wishes to conduct property inspections as a condition
3. Tenant Rights: Required when the property is currently tenanted and includes provisions regarding existing leases
4. GST/HST: Required for new construction or commercial properties where GST/HST applies
5. Property Management: Used for properties with ongoing management requirements until closing
6. Environmental Matters: Required for properties with known or potential environmental concerns
7. Construction Completion: Used for new construction or properties under renovation
8. Condominium Provisions: Required if the property is a condominium unit
9. Foreign Buyer Provisions: Required when purchaser is a non-resident of Canada
10. Spousal Consent: Required when the property is a matrimonial home
1. Schedule A - Legal Description: Detailed legal description of the property from land registry
2. Schedule B - Permitted Encumbrances: List of accepted liens, easements, and encumbrances that will remain on title
3. Schedule C - Included Chattels: Itemized list of movable items included in the sale
4. Schedule D - Excluded Fixtures: List of attached items that are specifically excluded from the sale
5. Schedule E - Current Leases: Details of existing tenant leases if applicable
6. Schedule F - Property Condition Report: Current condition of the property and known defects
7. Schedule G - Environmental Reports: Environmental assessment results if applicable
8. Appendix 1 - Property Plans: Survey plans and property drawings
9. Appendix 2 - Title Search: Results of title search and any title insurance requirements
10. Appendix 3 - Closing Documents Checklist: List of required documents for closing
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