The Commercial Contract Unimproved Property template is essential for businesses and individuals engaging in transactions involving undeveloped land in India. This document type is specifically designed to address the unique challenges and requirements of unimproved property transactions, including due diligence requirements, development potential assessment, and compliance with local zoning laws. It is particularly relevant in scenarios where the land is intended for future development or investment purposes. The contract ensures compliance with Indian legal requirements, including the Transfer of Property Act, Registration Act, and relevant state-specific property laws. It incorporates necessary provisions for title verification, encumbrance checks, and future development rights, making it suitable for various commercial land acquisition purposes.
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1. Parties: Identification and details of all parties involved in the transaction
2. Background: Context of the transaction and brief history of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the unimproved property including boundaries and measurements
5. Sale Consideration: Purchase price, payment terms, and schedule of payments
6. Representations and Warranties: Statements of fact and guarantees by both parties regarding the property and transaction
7. Title and Ownership: Confirmation of clear title and transfer of ownership terms
8. Conditions Precedent: Conditions that must be satisfied before completion
9. Completion: Process and requirements for completing the transaction
10. Seller's Obligations: Specific obligations of the seller before and after completion
11. Buyer's Obligations: Specific obligations of the buyer before and after completion
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution
14. Notices: Process and requirements for formal communications between parties
15. General Provisions: Standard contract clauses including severability, entire agreement, and amendments
1. Environmental Conditions: Include when property may have environmental concerns or requires specific clearances
2. Development Rights: Include when discussing future development possibilities and restrictions
3. Easements and Rights of Way: Include when there are existing or required easements affecting the property
4. Force Majeure: Include when specific force majeure provisions are needed beyond standard clauses
5. Tax Provisions: Include when specific tax arrangements or implications need to be addressed
6. Broker/Agent Provisions: Include when real estate agents or brokers are involved in the transaction
7. Assignment Rights: Include when transfer or assignment rights need specific attention
8. Subdivision Rights: Include when future subdivision of the property is contemplated
1. Property Details: Detailed property description, including survey numbers, boundaries, and maps
2. Title Documents: List of title documents and their verification status
3. Payment Schedule: Detailed breakdown of payment terms and installments
4. Encumbrances: List of existing encumbrances, if any, on the property
5. Due Diligence Report: Summary of legal and technical due diligence findings
6. Land Use Certificates: Copies of relevant land use and zoning certificates
7. Property Tax Records: History of property tax payments and current status
8. Required Approvals: List of necessary governmental and regulatory approvals
Relevant legal definitions
Agreement
Applicable Laws
Approvals
Business Day
Completion
Completion Date
Conditions Precedent
Consideration
Deposit
Development Rights
Encumbrances
Environmental Laws
Force Majeure Event
Governmental Authority
Land Records
Material Adverse Effect
Parties
Permitted Encumbrances
Property
Property Documents
Purchase Price
Registration
Seller's Warranties
Stamp Duty
Title Documents
Transfer
Unimproved Property
Zoning Laws
Due Diligence
Easements
Effective Date
Land Use
Local Authority
Property Tax
Survey Report
Title Search
Utilities
Vacant Possession
Applicable Laws
Approvals
Business Day
Completion
Completion Date
Conditions Precedent
Consideration
Deposit
Development Rights
Encumbrances
Environmental Laws
Force Majeure Event
Governmental Authority
Land Records
Material Adverse Effect
Parties
Permitted Encumbrances
Property
Property Documents
Purchase Price
Registration
Seller's Warranties
Stamp Duty
Title Documents
Transfer
Unimproved Property
Zoning Laws
Due Diligence
Easements
Effective Date
Land Use
Local Authority
Property Tax
Survey Report
Title Search
Utilities
Vacant Possession
Clauses
Property Description
Title and Ownership
Purchase Price
Payment Terms
Due Diligence
Conditions Precedent
Representations and Warranties
Covenants
Completion
Transfer of Title
Registration Requirements
Environmental Compliance
Development Rights
Encumbrances
Property Access
Land Use
Indemnification
Default
Termination
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Confidentiality
Entire Agreement
Amendment
Severability
Costs and Expenses
Tax Obligations
Insurance
Compliance with Laws
Authority and Capacity
Time of Essence
Further Assurances
Title and Ownership
Purchase Price
Payment Terms
Due Diligence
Conditions Precedent
Representations and Warranties
Covenants
Completion
Transfer of Title
Registration Requirements
Environmental Compliance
Development Rights
Encumbrances
Property Access
Land Use
Indemnification
Default
Termination
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Confidentiality
Entire Agreement
Amendment
Severability
Costs and Expenses
Tax Obligations
Insurance
Compliance with Laws
Authority and Capacity
Time of Essence
Further Assurances
Relevant Industries
Real Estate
Property Development
Construction
Commercial Investment
Urban Planning
Agriculture (for rural unimproved land)
Industrial Development
Infrastructure
Retail Development
Hospitality
Relevant Teams
Legal
Real Estate
Commercial
Property Development
Compliance
Risk Management
Business Development
Investment
Operations
Corporate Affairs
Relevant Roles
Real Estate Manager
Property Development Director
Legal Counsel
Commercial Director
Investment Manager
Land Acquisition Specialist
Property Portfolio Manager
Business Development Manager
Compliance Officer
Real Estate Agent
Property Consultant
Corporate Lawyer
Urban Planning Manager
Project Manager
Risk Assessment Manager
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