The Amendment To Purchase And Sale Agreement is a crucial legal document used in Canadian real estate transactions when parties need to modify their original purchase agreement. This document becomes necessary when circumstances change after the initial agreement is signed but before the closing date, such as adjustments to purchase price, closing timeline, property conditions, or other material terms. It must comply with Canadian provincial property laws and federal regulations, ensuring all modifications are properly documented and legally binding. The amendment typically includes references to the original agreement, specific details of the changes, and requires proper execution by all parties involved in the original transaction.
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1. Parties: Identifies all parties to the amendment, matching those in the original Purchase and Sale Agreement
2. Background: References the original Purchase and Sale Agreement including its date and any previous amendments, and states the parties' desire to amend the agreement
3. Definitions: Defines key terms used in the amendment, including reference to definitions in the original agreement
4. Amendment Details: Specifically outlines each modification being made to the original agreement, with clear reference to the sections being amended
5. Effect on Original Agreement: Confirms that all other terms and conditions of the original agreement remain in full force and effect
6. Consideration: States the consideration (if any) for the amendment
7. Integration: Establishes that this amendment is integrated with and becomes part of the original agreement
8. Execution: Signature block and execution requirements for all parties
1. Time Sensitivity: Include when the amendment needs to be executed by a specific deadline
2. Conditions Precedent: Include when the amendment is subject to certain conditions being met before becoming effective
3. Representations and Warranties: Include when parties need to make new or modified representations regarding the amendment
4. Regulatory Compliance: Include when the amendment requires specific regulatory acknowledgments or compliance statements
5. Third Party Consents: Include when the amendment requires approval from lenders, guarantors, or other third parties
6. Costs and Expenses: Include when there are specific provisions about who bears the costs of implementing the amendment
1. Schedule A - Amended Terms: Detailed listing of specific terms being modified, showing both original and amended versions
2. Schedule B - Revised Purchase Price Calculation: If price-related amendments, detailed breakdown of any price adjustments
3. Schedule C - Modified Dates: If timing-related amendments, comprehensive timeline of modified dates and deadlines
4. Appendix 1 - Supporting Documentation: Any relevant supporting documents referenced in the amendment
5. Appendix 2 - Required Consents: Copies of third-party consents or approvals required for the amendment
Relevant legal definitions
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Relevant Industries
Real Estate
Commercial Property
Residential Property
Real Estate Development
Construction
Banking and Finance
Legal Services
Property Management
Real Estate Investment
Agricultural Land
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Corporate Affairs
Contract Administration
Risk Management
Investment
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Broker
Legal Counsel
Corporate Counsel
Transaction Manager
Compliance Officer
Real Estate Development Manager
Contract Administrator
Property Development Director
Real Estate Investment Manager
Legal Administrator
Conveyancing Lawyer
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