The Full Payment Agreement Of Property is a crucial legal document used in Canadian real estate transactions where a property is purchased through complete payment rather than installments or lease-to-own arrangements. This document is essential when conducting property transactions in any Canadian province, incorporating both federal and provincial legal requirements. It serves as the primary contract detailing the complete transfer of property ownership, purchase price, payment terms, closing conditions, and both parties' obligations. The agreement is particularly important for protecting both buyer and seller interests in transactions involving residential, commercial, or industrial properties. It includes comprehensive sections covering property description, warranties, title transfer, and closing procedures, ensuring all aspects of the property sale are legally documented and enforceable.
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1. Parties: Identification and details of the buyer and seller, including legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement and their specific meanings
4. Property Description: Detailed legal description of the property and included fixtures/chattels
5. Purchase Price and Payment Terms: Total purchase price, payment schedule, and method of payment
6. Closing Date and Possession: Specified date for completion of the transaction and transfer of possession
7. Representations and Warranties: Seller's declarations about the property's condition and legal status
8. Title and Ownership: Confirmation of clear title and transfer of ownership obligations
9. Closing Conditions: Requirements that must be met before the transaction can be completed
10. Adjustments: Pro-rating of property taxes, utilities, and other expenses
11. Default and Remedies: Consequences and available remedies if either party fails to perform
12. Notices: How and where formal communications between parties should be delivered
13. Governing Law: Specification that Canadian law governs the agreement
14. Entire Agreement: Confirmation that this document represents the complete agreement between parties
1. Mortgage Contingency: Terms related to buyer's requirement to obtain mortgage financing
2. Property Inspection: Conditions and timeframes for property inspection and resulting actions
3. Environmental Matters: Specific terms regarding environmental conditions or concerns
4. Tenant Rights: Terms regarding existing tenants and lease agreements
5. Assignment Rights: Terms allowing or restricting the assignment of the agreement
6. Survival of Terms: Specification of which terms survive closing
7. Real Estate Agent Commission: Terms regarding payment of real estate commissions
8. Property Management: Transition terms for property management if applicable
1. Schedule A - Legal Property Description: Detailed legal description of the property including lot numbers, boundaries, and easements
2. Schedule B - Included Fixtures and Chattels: Itemized list of all items included in the sale
3. Schedule C - Property Disclosure Statement: Seller's disclosure of property condition and known issues
4. Schedule D - Title Search Results: Results of property title search and any encumbrances
5. Schedule E - Environmental Assessment: Results of any environmental assessments or reports
6. Appendix 1 - Property Survey: Current survey of the property showing boundaries and structures
7. Appendix 2 - Photographs: Documentary photographs of property condition at time of agreement
8. Appendix 3 - Required Permits: Copies of relevant permits and certificates
Relevant legal definitions
Agreement
Appurtenances
Business Day
Closing
Closing Date
Completion
Consideration
Deposit
Effective Date
Encumbrances
Fixtures
Good Title
Improvements
Land
Legal Description
Parties
Permitted Encumbrances
Property
Property Taxes
Purchase Price
Purchaser
Real Property
Seller
Statement of Adjustments
Survey
Title
Title Insurance
Transfer Documents
Vendor
Warranties
Zoning Laws
Chattels
Deed of Transfer
Due Diligence Period
Easements
Force Majeure
Governmental Authority
Land Registry Office
Material Adverse Change
Possession Date
Registration
Requisition Period
Transfer Tax
Utilities
Appurtenances
Business Day
Closing
Closing Date
Completion
Consideration
Deposit
Effective Date
Encumbrances
Fixtures
Good Title
Improvements
Land
Legal Description
Parties
Permitted Encumbrances
Property
Property Taxes
Purchase Price
Purchaser
Real Property
Seller
Statement of Adjustments
Survey
Title
Title Insurance
Transfer Documents
Vendor
Warranties
Zoning Laws
Chattels
Deed of Transfer
Due Diligence Period
Easements
Force Majeure
Governmental Authority
Land Registry Office
Material Adverse Change
Possession Date
Registration
Requisition Period
Transfer Tax
Utilities
Clauses
Identification of Parties
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Deposit
Due Diligence
Property Inspection
Closing Conditions
Risk Transfer
Property Insurance
Default and Remedies
Force Majeure
Assignment
Notices
Severability
Entire Agreement
Governing Law
Dispute Resolution
Survival
Confidentiality
Environmental Compliance
Property Tax Adjustment
Utilities Adjustment
Real Estate Commission
Legal Costs
Further Assurances
Time of Essence
Amendments
Registration
Title Insurance
Indemnification
Property Access
Compliance with Laws
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Deposit
Due Diligence
Property Inspection
Closing Conditions
Risk Transfer
Property Insurance
Default and Remedies
Force Majeure
Assignment
Notices
Severability
Entire Agreement
Governing Law
Dispute Resolution
Survival
Confidentiality
Environmental Compliance
Property Tax Adjustment
Utilities Adjustment
Real Estate Commission
Legal Costs
Further Assurances
Time of Essence
Amendments
Registration
Title Insurance
Indemnification
Property Access
Compliance with Laws
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Insurance
Property Development
Construction
Commercial Property Management
Residential Property Management
Property Investment
Urban Planning
Agricultural Land Management
Industrial Property
Retail Property
Hospitality
Relevant Teams
Legal
Real Estate Operations
Property Management
Asset Management
Facilities Management
Risk Management
Compliance
Finance
Investment
Operations
Acquisitions
Due Diligence
Property Development
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
Corporate Counsel
Legal Counsel
Property Developer
Investment Manager
Asset Manager
Commercial Property Manager
Real Estate Investment Analyst
Title Examiner
Mortgage Broker
Chief Legal Officer
Real Estate Operations Director
Property Acquisitions Manager
Real Estate Portfolio Manager
Facilities Manager
Property Valuation Specialist
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