The Property Sales Contract Between Seller And Buyer is a fundamental legal document used in Pakistani real estate transactions to formalize the transfer of property ownership. This contract type is essential for compliance with Pakistani property law, particularly the Transfer of Property Act 1882, Registration Act 1908, and relevant stamp duty legislation. It is used whenever real property is being sold and transferred from one party to another, whether residential, commercial, or industrial. The document includes crucial details about the property, parties involved, purchase price, payment terms, warranties, and completion requirements. It also addresses specific Pakistani legal requirements such as registration procedures, stamp duty payments, and land revenue record updates. This contract serves as the primary evidence of the transaction and is required for official property registration and mutation in Pakistan.
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1. Parties: Identification and details of the Seller and Buyer, including complete legal names, CNICs, and addresses
2. Background: Brief context of the transaction and property ownership history
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including exact location, dimensions, and registration details
5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable
6. Payment Method: Specified method of payment and banking details
7. Completion Date: Timeline for completion of the sale and transfer of possession
8. Seller's Representations and Warranties: Declarations regarding property ownership, encumbrances, and legal status
9. Buyer's Representations and Warranties: Declarations regarding financial capacity and compliance with laws
10. Title and Registration: Process and obligations for transfer of title and registration
11. Taxes and Expenses: Allocation of taxes, stamp duty, registration fees, and other costs
12. Default and Remedies: Consequences of default by either party and available remedies
13. Governing Law: Specification of Pakistani law as governing law and relevant jurisdictions
14. Execution: Signing requirements and witness details
1. Existing Tenancies: Details of any existing tenants and handling of rental agreements - used when property is currently tenanted
2. Property Inspection: Findings from property inspection and agreed repairs - used when specific inspections have been conducted
3. Mortgage Details: Information about existing or new mortgage arrangements - used when property is mortgaged or buyer is obtaining mortgage financing
4. Possession Conditions: Special conditions regarding possession - used when there are specific requirements for handover
5. Development Obligations: Future development restrictions or requirements - used for undeveloped land or properties with development potential
6. Utilities and Services: Transfer of utility connections and outstanding bills - used when specific utility arrangements need to be addressed
7. Force Majeure: Provisions for unforeseen circumstances - used in areas prone to natural disasters or political instability
1. Property Description Schedule: Detailed technical description of the property including plot numbers, boundaries, and measurements
2. Title Documents: List of all title documents and their certified copies
3. Payment Schedule: Detailed breakdown of payment installments and due dates if applicable
4. Property Inventory: List of fixtures, fittings, and other items included in the sale
5. Land Revenue Records: Copies of relevant land revenue records and tax documents
6. Property Pictures: Photographs of the property and its current condition
7. Outstanding Dues Certificate: Certificates showing clearance of all utility bills and property taxes
Relevant legal definitions
Agreement
Property
Seller
Buyer
Completion Date
Completion
Purchase Price
Deposit
Balance Payment
Title Deeds
Transfer Deed
Encumbrances
Business Day
Possession
Registration
Stamp Duty
Land Revenue Records
Mutation
Property Documents
Due Diligence
Fixtures and Fittings
Force Majeure
CNIC
Beneficial Owner
Occupation Certificate
No Objection Certificate
Outstanding Dues
Property Tax
Sale Deed
Transfer Expenses
Vacant Possession
Working Day
Material Breach
Permitted Use
Property Rights
Regularization
Site Plan
Utilities
Valuation
Warranties
Property
Seller
Buyer
Completion Date
Completion
Purchase Price
Deposit
Balance Payment
Title Deeds
Transfer Deed
Encumbrances
Business Day
Possession
Registration
Stamp Duty
Land Revenue Records
Mutation
Property Documents
Due Diligence
Fixtures and Fittings
Force Majeure
CNIC
Beneficial Owner
Occupation Certificate
No Objection Certificate
Outstanding Dues
Property Tax
Sale Deed
Transfer Expenses
Vacant Possession
Working Day
Material Breach
Permitted Use
Property Rights
Regularization
Site Plan
Utilities
Valuation
Warranties
Clauses
Property Description
Sale and Purchase
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Possession
Registration and Stamp Duty
Due Diligence
Encumbrances
Completion
Default and Remedies
Property Inspection
Seller Obligations
Buyer Obligations
Title Documents
Force Majeure
Taxes and Expenses
Dispute Resolution
Governing Law
Severability
Entire Agreement
Assignment
Notices
Further Assurance
Property Maintenance
Utilities Transfer
Insurance
Indemnification
Amendment
Counterparts
Time of Essence
Sale and Purchase
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Possession
Registration and Stamp Duty
Due Diligence
Encumbrances
Completion
Default and Remedies
Property Inspection
Seller Obligations
Buyer Obligations
Title Documents
Force Majeure
Taxes and Expenses
Dispute Resolution
Governing Law
Severability
Entire Agreement
Assignment
Notices
Further Assurance
Property Maintenance
Utilities Transfer
Insurance
Indemnification
Amendment
Counterparts
Time of Essence
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Urban Planning
Investment & Asset Management
Insurance
Professional Services
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Documentation
Contract Administration
Risk Management
Investment
Asset Management
Business Development
Relevant Roles
Real Estate Agent
Property Lawyer
Legal Counsel
Property Developer
Real Estate Manager
Compliance Officer
Title Officer
Property Valuation Expert
Real Estate Broker
Contract Manager
Property Consultant
Land Revenue Officer
Real Estate Investment Manager
Documentation Specialist
Property Rights Specialist
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