The Commercial Property Contract serves as the primary document governing the transfer of commercial real estate in England and Wales. It is used when businesses or individuals are buying or selling commercial properties such as office buildings, retail spaces, or industrial units. The contract includes crucial details about the property, price, completion arrangements, and both parties' obligations. It must comply with English and Welsh property law, particularly the Law of Property Act 1925 and the Land Registration Act 2002, and typically includes provisions for title guarantee, environmental matters, and planning permissions.
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1. Parties: Details of the buyer and seller, including registered addresses
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the property and any included fixtures/fittings
5. Sale Price: Purchase price and payment terms
6. Completion: Completion date and requirements
7. Title Guarantee: Seller's covenant regarding title
1. Conditions Precedent: Additional conditions that must be met before completion, used in complex transactions with pre-completion requirements
2. Environmental Provisions: Environmental warranties and indemnities, used for properties with potential environmental risks
3. Planning Provisions: Planning permissions and restrictions, used for properties requiring specific planning consideration
1. Schedule 1 - Property Details: Detailed property description and plan
2. Schedule 2 - Title Documents: List of relevant title documents
3. Schedule 3 - Incumbrances: Details of any charges, restrictions, or covenants
4. Schedule 4 - VAT Election: VAT status and elections (if applicable)
5. Appendix 1 - Property Plan: Official plan showing boundaries and extent
6. Appendix 2 - Land Registry Office Copy Entries: Official copies of the register
7. Appendix 3 - Planning Permissions: Copies of relevant planning permissions
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Completion
Completion Date
Contract Rate
Deposit
Encumbrances
Environmental Laws
Environmental Permits
Fixtures and Fittings
Initial Deposit
Land Registry
Planning Acts
Planning Permission
Property
Purchase Price
Purchaser
Seller
Standard Conditions
Title Documents
Transfer
VAT
Working Day
Warranties
Title Number
Contractual Completion Date
Permitted Use
Relevant Authority
Title Guarantee
Applicable Laws
Business Day
Completion
Completion Date
Contract Rate
Deposit
Encumbrances
Environmental Laws
Environmental Permits
Fixtures and Fittings
Initial Deposit
Land Registry
Planning Acts
Planning Permission
Property
Purchase Price
Purchaser
Seller
Standard Conditions
Title Documents
Transfer
VAT
Working Day
Warranties
Title Number
Contractual Completion Date
Permitted Use
Relevant Authority
Title Guarantee
Clauses
Sale Agreement
Property Description
Title Guarantee
Purchase Price
Deposit
Completion
Vacant Possession
Title Matters
Planning and Building Regulations
Environmental Matters
Physical Condition
Fixtures and Fittings
VAT
Insurance
Assignment
Representations and Warranties
Indemnities
Risk and Property
Rights of Entry
Notice Provisions
Encumbrances
Merger
Entire Agreement
Severability
Governing Law
Jurisdiction
Third Party Rights
Registration
Costs
Default Provisions
Property Description
Title Guarantee
Purchase Price
Deposit
Completion
Vacant Possession
Title Matters
Planning and Building Regulations
Environmental Matters
Physical Condition
Fixtures and Fittings
VAT
Insurance
Assignment
Representations and Warranties
Indemnities
Risk and Property
Rights of Entry
Notice Provisions
Encumbrances
Merger
Entire Agreement
Severability
Governing Law
Jurisdiction
Third Party Rights
Registration
Costs
Default Provisions
Relevant Industries
Relevant Teams
Relevant Roles
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