The Commercial Property Sale Agreement is a crucial legal document used in Ireland when transferring ownership of commercial real estate between parties. It is essential for any business-to-business property transaction, whether involving office buildings, retail spaces, industrial facilities, or other commercial properties. The agreement must comply with Irish property law and commercial regulations, including the Land and Conveyancing Law Reform Act 2009 and related legislation. It typically includes comprehensive details about the property, price, conditions of sale, warranties, and completion mechanisms. This document is particularly important as it provides legal protection for both parties, ensures compliance with Irish property transfer requirements, and addresses commercial-specific considerations such as VAT, existing tenancies, and planning permissions. The agreement serves as the foundational document for the entire transaction and is typically prepared following initial negotiations and heads of terms.
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1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Recitals establishing the context of the sale, including property ownership and intention to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price and payment terms
5. Conditions Precedent: Conditions that must be satisfied before completion can occur
6. Title and Due Diligence: Vendor's obligations regarding title proof and purchaser's due diligence rights
7. Property Condition: State of the property and any warranties or disclaimers regarding its condition
8. Planning and Compliance: Confirmations regarding planning permissions, building regulations, and other compliance matters
9. Completion: Completion mechanics, including timing, location, and requirements
10. Risk and Insurance: Transfer of risk and insurance obligations until completion
11. Representations and Warranties: Standard warranties given by both parties
12. Default and Termination: Consequences of default and termination rights
13. Notices: Method and addresses for serving notices under the agreement
14. Governing Law: Confirmation of Irish law as governing law and jurisdiction
1. VAT: Detailed VAT provisions where the property is subject to VAT
2. Existing Tenancies: Required when the property is sold subject to existing tenancies
3. Environmental Matters: Specific provisions for properties with environmental concerns or history
4. Service Contracts: Provisions dealing with existing service contracts where relevant
5. Development Rights: Special provisions regarding development potential or restrictions
6. Intellectual Property: Required when the sale includes trading names or other IP associated with the property
7. Employees: TUPE provisions where employees are attached to the property
8. Post-Completion Obligations: Any specific obligations that continue after completion
1. Property Description: Detailed description of the property including maps and plans
2. Title Documents: List of title documents and certified copies
3. Existing Tenancies Schedule: Details of all existing tenancies including key terms
4. Inventory: List of fixtures, fittings, and equipment included in the sale
5. Planning Permissions: List of relevant planning permissions and compliance certificates
6. Service Contracts: Details of transferring service contracts
7. Environmental Reports: Summary of environmental surveys and reports
8. Required Works: Details of any works required to be completed before completion
9. Form of Transfer: Agreed form of transfer deed
10. Commercial Rates: Details of commercial rates and other outgoings
Relevant legal definitions
Agreement
Bank Holiday
Business Day
CAT
CGT
Completion
Completion Date
Deposit
Disposal
Encumbrance
Environmental Law
Environmental Permits
Existing Tenancies
Fixtures and Fittings
Governing Law
Hazardous Substances
Interest Rate
Land Registry
Lease
Material Adverse Effect
Necessary Consents
Outgoings
Parties
Permitted Encumbrances
Planning Acts
Planning Permission
Property
Purchase Price
Purchaser
Purchaser's Solicitor
Registry of Deeds
Related Parties
Requisitions on Title
Service Contracts
Stamp Duty
Tax
Title Documents
Transaction
Transfer Date
VAT
Vendor
Vendor's Solicitor
Warranties
Working Day
Bank Holiday
Business Day
CAT
CGT
Completion
Completion Date
Deposit
Disposal
Encumbrance
Environmental Law
Environmental Permits
Existing Tenancies
Fixtures and Fittings
Governing Law
Hazardous Substances
Interest Rate
Land Registry
Lease
Material Adverse Effect
Necessary Consents
Outgoings
Parties
Permitted Encumbrances
Planning Acts
Planning Permission
Property
Purchase Price
Purchaser
Purchaser's Solicitor
Registry of Deeds
Related Parties
Requisitions on Title
Service Contracts
Stamp Duty
Tax
Title Documents
Transaction
Transfer Date
VAT
Vendor
Vendor's Solicitor
Warranties
Working Day
Clauses
Sale and Purchase
Purchase Price
Deposit
Title
Property Transfer
Conditions Precedent
Due Diligence
Property Condition
Representations and Warranties
Planning and Development
Environmental Compliance
Building Regulations
Existing Tenancies
Service Contracts
Insurance
Risk Transfer
VAT
Stamp Duty
Tax Compliance
Default
Termination
Force Majeure
Assignment
Notices
Confidentiality
Entire Agreement
Variations
Severability
Third Party Rights
Governing Law
Jurisdiction
Completion Mechanics
Post-Completion Obligations
Dispute Resolution
Costs
Further Assurance
Purchase Price
Deposit
Title
Property Transfer
Conditions Precedent
Due Diligence
Property Condition
Representations and Warranties
Planning and Development
Environmental Compliance
Building Regulations
Existing Tenancies
Service Contracts
Insurance
Risk Transfer
VAT
Stamp Duty
Tax Compliance
Default
Termination
Force Majeure
Assignment
Notices
Confidentiality
Entire Agreement
Variations
Severability
Third Party Rights
Governing Law
Jurisdiction
Completion Mechanics
Post-Completion Obligations
Dispute Resolution
Costs
Further Assurance
Relevant Industries
Real Estate
Commercial Property
Retail
Industrial
Office Space
Hospitality
Healthcare
Education
Manufacturing
Logistics
Banking and Finance
Professional Services
Technology
Relevant Teams
Legal
Finance
Real Estate
Operations
Facilities Management
Risk and Compliance
Tax
Corporate Development
Property Management
Asset Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Commercial Director
Real Estate Director
Property Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Commercial Property Solicitor
Real Estate Manager
Investment Director
Asset Manager
Development Director
Operations Manager
Risk Manager
Company Secretary
Finance Director
Tax Manager
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