The Commercial Land Contract serves as the primary instrument for documenting commercial real estate transactions in the United States. It is used when businesses or individuals wish to purchase commercial property through a structured agreement that may include installment payments or specific conditions. This contract type is particularly important as it provides legal protection for both parties, ensures compliance with state and federal regulations, and documents all essential aspects of the transaction including property description, purchase price, payment terms, and closing requirements. The document must conform to state-specific real estate laws and usually requires review by legal professionals.
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1. Parties: Identifies all parties to the contract, including legal names and addresses
2. Background/Recitals: States the context and purpose of the agreement
3. Definitions: Defines key terms used throughout the contract
4. Property Description: Detailed legal description of the property including boundaries and parcel numbers
5. Purchase Price: States the agreed purchase price and payment terms
6. Title and Deed: Provisions regarding title transfer and warranty deed requirements
7. Closing: Details of closing process, timing, and requirements
8. Representations and Warranties: Statements of fact by both parties about the property and transaction
9. Default and Remedies: Consequences of breach and available remedies
10. Governing Law: Specifies applicable jurisdiction and law
1. Financing Contingency: Terms related to buyer's financing requirements - used when buyer requires financing to complete purchase
2. Environmental Provisions: Environmental warranties and indemnities - used when property has potential environmental concerns
3. Tenant Rights: Provisions regarding existing tenants - used when property has current occupants
4. Development Rights: Terms regarding future development - used when buyer plans to develop the property
5. Mineral Rights: Provisions regarding mineral rights retention/transfer - used when mineral rights are relevant to the transaction
1. Property Survey: Detailed survey of the property and improvements
2. Title Report: Current title report showing encumbrances and restrictions
3. Environmental Reports: Any environmental assessments or reports
4. Existing Leases: Copies of current lease agreements affecting the property
5. Property Tax Records: Current property tax assessments and payment status
6. Zoning Certificates: Current zoning status and compliance certificates
Relevant legal definitions
Agreement
Closing
Closing Date
Deposit
Earnest Money
Effective Date
Encumbrances
Environmental Laws
Hazardous Materials
Improvements
Land
Lender
Mortgage
Permitted Exceptions
Property
Purchase Price
Real Estate Taxes
Recording
Seller's Knowledge
Survey
Title Company
Title Insurance
Title Report
Transfer Documents
Warranties
Zoning Laws
Due Diligence Period
Escrow Agent
Existing Leases
Force Majeure
Liens
Material Adverse Change
Operating Expenses
Permitted Use
Property Documents
Real Property
Representations
Business Day
Deed
Default
Closing
Closing Date
Deposit
Earnest Money
Effective Date
Encumbrances
Environmental Laws
Hazardous Materials
Improvements
Land
Lender
Mortgage
Permitted Exceptions
Property
Purchase Price
Real Estate Taxes
Recording
Seller's Knowledge
Survey
Title Company
Title Insurance
Title Report
Transfer Documents
Warranties
Zoning Laws
Due Diligence Period
Escrow Agent
Existing Leases
Force Majeure
Liens
Material Adverse Change
Operating Expenses
Permitted Use
Property Documents
Real Property
Representations
Business Day
Deed
Default
Clauses
Property Description
Purchase Price
Payment Terms
Title and Conveyance
Due Diligence
Environmental Compliance
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Default and Remedies
Risk of Loss
Property Access
Assignment
Force Majeure
Indemnification
Insurance
Notices
Governing Law
Dispute Resolution
Severability
Amendments
Entire Agreement
Recording
Survival
Time of Essence
Waiver
Zoning Compliance
Property Inspection
Title Insurance
Broker Commission
Tax Prorations
Utility Transfer
Possession
Further Assurances
Purchase Price
Payment Terms
Title and Conveyance
Due Diligence
Environmental Compliance
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Default and Remedies
Risk of Loss
Property Access
Assignment
Force Majeure
Indemnification
Insurance
Notices
Governing Law
Dispute Resolution
Severability
Amendments
Entire Agreement
Recording
Survival
Time of Essence
Waiver
Zoning Compliance
Property Inspection
Title Insurance
Broker Commission
Tax Prorations
Utility Transfer
Possession
Further Assurances
Relevant Industries
Relevant Teams
Relevant Roles
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