The Property Agreement serves as a fundamental legal instrument in Irish property transactions, essential for both residential and commercial property transfers. This document is typically used when parties wish to formalize the transfer of property ownership or interests, requiring detailed documentation of the transaction terms, conditions, and obligations of all involved parties. It must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009 and related legislation, while addressing specific requirements such as title transfer, planning permissions, and property registration. The Property Agreement includes comprehensive information about the property, purchase terms, warranties, and any specific conditions, making it suitable for various types of property transactions, from simple residential purchases to complex commercial property deals.
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1. Parties: Identifies and defines all parties to the agreement, including full legal names, addresses, and any company registration details
2. Background: Sets out the context of the agreement and brief history of the property transaction
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Details: Comprehensive description of the property including address, boundaries, and folio number
5. Purchase Price: States the agreed purchase price and payment terms including deposit arrangements
6. Title: Details of the property's title and any encumbrances or restrictions
7. Completion: Terms and conditions for completing the transaction, including timing and procedural requirements
8. Warranties and Representations: Seller's warranties regarding the property's condition, title, and any disclosed issues
9. Covenants: Ongoing obligations of both parties regarding the property
10. Risk and Insurance: Provisions regarding property risk transfer and insurance requirements
11. Notices: Process for serving formal notices between parties
12. Governing Law: Confirms Irish law as governing law and jurisdiction
13. Entire Agreement: Standard boilerplate confirming this document represents the entire agreement between parties
1. Planning Permissions: Required when the property has existing planning permissions or requires new ones
2. Environmental Matters: Necessary when environmental issues or assessments are relevant to the property
3. Tenancies: Required when the property is subject to existing tenancies
4. Service Charges: Needed for properties in managed developments or with shared services
5. VAT: Required when VAT is applicable to the transaction
6. Management Company: Necessary for apartments or managed developments
7. Conditions Precedent: Required when completion is subject to specific conditions being met
8. Development Rights: Needed when future development potential is part of the agreement
1. Schedule 1 - Property Description: Detailed property description including maps, plans, and boundaries
2. Schedule 2 - Title Documents: List of all relevant title documents and their contents
3. Schedule 3 - Fixtures and Fittings: Comprehensive list of items included/excluded in the sale
4. Schedule 4 - Existing Tenancies: Details of any existing tenancies affecting the property
5. Schedule 5 - Planning Documentation: Copies of relevant planning permissions and documentation
6. Appendix A - Property Plans: Maps and architectural plans of the property
7. Appendix B - Building Survey: Technical survey reports and assessments
8. Appendix C - Energy Performance Certificate: Current energy performance certificate and ratings
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