The Contract to Sell Lot is a fundamental document in English and Welsh property law, used when transferring ownership of land or property from one party to another. This contract type is essential for both residential and commercial property transactions, providing a comprehensive framework that protects the interests of both parties. It must comply with the Law of Property Act 1925 and the Land Registration Act 2002, among other relevant legislation. The document typically includes detailed property descriptions, price terms, completion dates, and any specific conditions or restrictions affecting the property.
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1. Parties: Details of the seller and buyer
2. Background: Context of the sale and property details
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the lot including boundaries and rights
5. Purchase Price: Amount and payment terms
6. Completion Date: Date for completion of the sale
7. Title Guarantee: Warranties regarding ownership and title
8. Vacant Possession: Conditions of possession upon completion
1. Planning Permissions: Details of existing permissions and restrictions that apply to the property
2. Environmental Matters: Environmental surveys, warranties and related issues affecting the property
3. Restrictive Covenants: Existing restrictions on land use and development
4. Service Charges: Details of ongoing maintenance charges and shared facility costs
1. Property Plan: Detailed plan showing boundaries and location of the lot
2. Title Documents: Copies of relevant title documents and registers
3. Planning Permissions: Copies of relevant planning permissions and certificates
4. Property Searches: Results of local authority and other relevant searches
5. Rights and Easements: Details of any rights of way or other easements affecting the property
Relevant legal definitions
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