The Real Estate Contract serves as the primary legal instrument for property transactions in Pakistan, essential for both residential and commercial property transfers. This document is used when parties have agreed to transfer property ownership and need to formalize the terms and conditions of the sale. It must comply with multiple Pakistani legislations, including the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial laws. The contract includes crucial details such as property description, sale price, payment terms, possession date, and warranties. It requires proper execution before witnesses, payment of appropriate stamp duty, and registration with relevant authorities. This document is particularly important in Pakistan's context where property disputes are common, thus requiring comprehensive documentation of all terms and conditions.
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1. Parties: Identification and details of the seller and purchaser, including CNIC numbers and complete addresses
2. Background: Context of the transaction and brief property history
3. Definitions: Key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including exact measurements, boundaries, and registration details
5. Sale Price and Payment Terms: Purchase price, payment schedule, and method of payment
6. Representations and Warranties: Seller's declarations regarding property title, encumbrances, and legal status
7. Possession and Transfer: Terms and timing of property possession and title transfer
8. Taxes and Expenses: Allocation of transaction costs, taxes, and registration fees
9. Due Diligence: Buyer's right to verify property details and documentation
10. Default and Remedies: Consequences of breach and available remedies
11. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
12. Notices: Method and addresses for official communications
13. Execution: Signature blocks and witness requirements
1. Condition Precedents: Specific conditions that must be met before completion, used when there are pending approvals or clearances
2. Mortgage Details: Include when property is being purchased through bank financing
3. Construction Specifications: Required for under-construction properties or when modifications are agreed upon
4. Maintenance Charges: For properties in managed communities or apartment buildings
5. Third Party Rights: When there are existing tenants or other rights holders
6. Development Rights: For properties with potential development or modification rights
7. Force Majeure: For long-term transactions where external factors might affect completion
8. Agricultural Land Provisions: Special provisions required for agricultural land transactions
1. Property Schedule: Detailed property specifications, including plot number, size, location, and boundaries
2. Payment Schedule: Detailed breakdown of payment installments and dates
3. Title Documents: List of all title and ownership documents
4. Property Plans: Architectural plans, site maps, and approved drawings
5. Encumbrance Certificate: Official document showing any existing liens or encumbrances
6. NOCs: Copies of all necessary No Objection Certificates
7. Tax Certificates: Property tax payment proofs and clearances
8. Utilities Schedule: Details of existing utility connections and pending bills
Relevant legal definitions
Agreement
Property
Completion Date
Completion
Contract Price
Deposit
Due Diligence Period
Effective Date
Encumbrances
Force Majeure
Mutation
NOC
Possession
Property Documents
Purchase Price
Registration
Seller's Warranties
Stamp Duty
Title Deed
Transfer Deed
Business Day
Applicable Laws
Consideration
Default
Fixtures and Fittings
Land Revenue Records
Material Adverse Change
Outstanding Charges
Parties
Permitted Use
Registry Office
Representatives
Security Interest
Vacant Possession
Valuation
Working Day
Khasra Number
Khewat Number
Fard-e-Malkiyat
Society NOC
Property
Completion Date
Completion
Contract Price
Deposit
Due Diligence Period
Effective Date
Encumbrances
Force Majeure
Mutation
NOC
Possession
Property Documents
Purchase Price
Registration
Seller's Warranties
Stamp Duty
Title Deed
Transfer Deed
Business Day
Applicable Laws
Consideration
Default
Fixtures and Fittings
Land Revenue Records
Material Adverse Change
Outstanding Charges
Parties
Permitted Use
Registry Office
Representatives
Security Interest
Vacant Possession
Valuation
Working Day
Khasra Number
Khewat Number
Fard-e-Malkiyat
Society NOC
Clauses
Property Description
Sale and Purchase
Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Due Diligence
Conditions Precedent
Registration and Transfer
Possession
Encumbrances
Property Taxes
Stamp Duty
Insurance
Default and Remedies
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Indemnification
Severability
Entire Agreement
Amendment
Counterparts
Costs and Expenses
Termination
Further Assurance
Compliance with Laws
Time of Essence
Sale and Purchase
Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Due Diligence
Conditions Precedent
Registration and Transfer
Possession
Encumbrances
Property Taxes
Stamp Duty
Insurance
Default and Remedies
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Indemnification
Severability
Entire Agreement
Amendment
Counterparts
Costs and Expenses
Termination
Further Assurance
Compliance with Laws
Time of Essence
Relevant Industries
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Urban Planning
Agriculture (for agricultural land)
Retail (for commercial properties)
Industrial
Hospitality
Relevant Teams
Legal
Real Estate
Compliance
Risk Management
Business Development
Property Management
Acquisitions
Investment
Operations
Documentation
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Compliance Officer
Real Estate Investment Manager
Land Registration Officer
Property Valuation Expert
Contract Manager
Real Estate Portfolio Manager
Business Development Manager
Risk Management Officer
Property Acquisition Manager
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