Standard Form Real Estate Contract for the United Kingdom

Standard Form Real Estate Contract Template for England and Wales

A Standard Form Real Estate Contract is a legally binding document used in England and Wales for the sale and purchase of real property. It contains standardized terms and conditions that comply with English property law, including requirements under the Law of Property Act 1925 and Land Registration Act 2002. The contract sets out the essential terms of the transaction, including property details, purchase price, completion date, and obligations of both parties, while providing a consistent and reliable framework for property transactions.

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What is a Standard Form Real Estate Contract?

The Standard Form Real Estate Contract serves as the primary legal instrument for property transactions in England and Wales. It is designed to streamline the conveyancing process by providing a consistent template that includes all necessary legal requirements and protections for both parties. This document is essential when transferring property ownership and typically includes details about the property, price, completion timeline, and various warranties and covenants. The standardized nature helps ensure compliance with relevant legislation while reducing the risk of omissions or errors in the transaction process.

What sections should be included in a Standard Form Real Estate Contract?

1. Parties: Details of seller and buyer, including full legal names and 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 including title number and address

5. Purchase Price: Amount and payment terms

6. Completion Date: Agreed date for completion of the transaction

7. Title Guarantee: Extent of title guarantee provided by seller

8. Vacant Possession: Confirmation of vacant possession on completion

What sections are optional to include in a Standard Form Real Estate Contract?

1. Fixtures and Fittings: List of items included/excluded from sale - used when specific items need to be detailed

2. Planning Permissions: Details of existing permissions - used when property has specific planning conditions

3. Service Charges: Details of ongoing charges - used for leasehold properties

What schedules should be included in a Standard Form Real Estate Contract?

1. Property Plan: Land Registry compliant plan of the property

2. Fixtures and Fittings Inventory: Detailed list of included items

3. Title Documents: Copies of relevant title documents

4. Property Information Form: Standard form responses about the property

5. Energy Performance Certificate: Current EPC 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

Jurisdiction

England and Wales

Publisher

Genie AI

Cost

Free to use
Clauses
Industries

Law of Property Act 1925: Fundamental legislation governing real property transactions, including requirements for contracts and transfers, and legal estates and interests in land

Land Registration Act 2002: Covers requirements for registration of title, priority of interests, and electronic conveyancing provisions

Consumer Rights Act 2015: Applies when one party is a consumer, covering unfair contract terms and transparency requirements in property transactions

Landlord and Tenant Act 1985: Governs property transactions involving tenancies, including statutory obligations and repair responsibilities

Contracts (Rights of Third Parties) Act 1999: Regulates third-party rights and enforcement provisions in property contracts

Law of Property (Miscellaneous Provisions) Act 1989: Sets out requirements for contracts to be in writing and formal validity requirements for property transactions

Money Laundering Regulations 2017: Specifies due diligence requirements and identity verification procedures for property transactions

Housing Act 2004: Establishes property standards and health and safety requirements for residential properties

Land Registry Requirements: Regulatory guidelines and practices set by the Land Registry for property registration and transfer

RICS Guidelines: Professional standards and guidelines set by the Royal Institution of Chartered Surveyors for property transactions

Local Planning Regulations: Local authority requirements affecting property use, development, and transfer

Energy Performance Certificate Requirements: Mandatory energy efficiency assessments and certificates required for property transactions

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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