Specialty Contracts are formal legal instruments used in England and Wales for transactions requiring heightened legal certainty and formality. These contracts, executed as deeds, are particularly important for significant commercial arrangements, property transactions, and situations where the extended 12-year limitation period is advantageous. The document must comply with specific execution requirements under the Law of Property (Miscellaneous Provisions) Act 1989 and related legislation.
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1. Parties: Full legal names and addresses of all parties to the deed
2. Background: Context and purpose of the deed
3. Definitions: Defined terms used throughout the deed
4. Operative Provisions: Main obligations and rights being created
5. Execution Block: Formal execution provisions including witness requirements
1. Conditions Precedent: Used when deed effectiveness depends on certain conditions being met
2. Representations and Warranties: Include when parties need to rely on factual statements
3. Indemnities: Include when specific protection against losses is required
1. Property Schedule: Details of any property involved in the deed
2. Rights Schedule: Detailed description of rights being granted
3. Form of Notice: Standard form notices required under the deed
4. Powers of Attorney: Where deed includes grant of authority to act for another
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