The Sales Contract For House is a fundamental legal instrument used in Pakistani property transactions to formalize the transfer of residential property ownership. This document is essential when any party wishes to sell or purchase a house in Pakistan, ensuring compliance with the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial regulations. It contains crucial details about the property, parties involved, payment terms, and conditions of sale, while incorporating necessary legal safeguards and warranties. The contract must address specific Pakistani legal requirements including proper registration, stamp duty payment, and consideration of Islamic law principles where applicable. It serves as the primary evidence of the transaction and outlines the rights and obligations of all parties involved in the property transfer.
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1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the sale and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property
5. Purchase Price: Details of the purchase price and payment terms
6. Payment Structure: Breakdown of payment installments and timelines
7. Property Details: Comprehensive description of the property and included fixtures/fittings
8. Completion: Terms and process for completing the sale
9. Seller's Warranties: Warranties regarding property title, condition, and encumbrances
10. Buyer's Warranties: Warranties regarding capacity to purchase and fund the transaction
11. Registration and Transfer: Process for legal registration and transfer of the property
12. Possession: Terms for delivering possession of the property
13. Taxes and Expenses: Allocation of taxes, duties, and transaction costs
14. Governing Law: Confirmation of Pakistani law as governing law
15. Dispute Resolution: Process for resolving disputes between parties
1. Mortgage Details: Include when buyer is obtaining mortgage financing
2. Existing Tenancies: Include when property is sold with sitting tenants
3. Property Management: Include when sale includes ongoing management arrangements
4. Development Rights: Include when property has potential development opportunities
5. Utilities and Services: Include when specific arrangements for utilities transfer are needed
6. Defect Resolution: Include when known defects need remediation
7. Islamic Finance Compliance: Include when transaction needs to comply with Islamic financing principles
8. Joint Ownership: Include when property will be jointly owned post-sale
1. Property Description Schedule: Detailed legal description of the property including boundaries and measurements
2. Fixtures and Fittings Schedule: Itemized list of included and excluded fixtures and fittings
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Title Documents: List of all relevant title and ownership documents
5. Property Certificates: Copies of necessary certificates and permits
6. Outstanding Charges: Details of any existing charges or encumbrances
7. Property Inspection Report: Results of property inspection and condition assessment
8. Land Registry Documents: Copies of relevant land registry documentation
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