The Property Sale Contract is a fundamental legal document used in Irish property transactions to formalize and execute the sale of real estate. It serves as the primary agreement between vendors and purchasers, incorporating all essential terms, conditions, and obligations required under Irish law. This document is crucial for both residential and commercial property transactions, ensuring compliance with key legislation such as the Land and Conveyancing Law Reform Act 2009 and the Registration of Title Act 1964. It typically includes comprehensive details about the property, price, payment terms, warranties, and completion requirements, while also addressing specific conditions such as planning permissions, title requirements, and property-specific obligations. The contract provides legal protection for all parties involved and serves as the basis for the property transfer process in the Land Registry.
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1. Parties: Identification and details of the vendor and purchaser, including full legal names and addresses
2. Background: Context of the sale, including brief property description and intention to sell/purchase
3. Definitions: Defined terms used throughout the contract, including Property, Completion Date, Purchase Price, etc.
4. Property Description: Detailed description of the property being sold, including address, folio number, and boundaries
5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment schedule
6. Title: Vendor's confirmation of good and marketable title, and obligations regarding title transfer
7. Conditions Precedent: Conditions that must be satisfied before completion, including planning compliance and title requirements
8. Completion: Completion date, mechanics of completion, and requirements for closing the sale
9. Vendor's Warranties: Standard warranties regarding property ownership, condition, and absence of encumbrances
10. Purchaser's Warranties: Warranties regarding capacity to purchase and funding arrangements
11. Risk and Insurance: Provisions regarding property risk transfer and insurance requirements
12. Notices: Process and requirements for serving notices under the contract
13. Governing Law: Confirmation of Irish law as governing law and jurisdiction
1. Tenant Rights: Required when the property is sold subject to existing tenancies
2. Planning Permissions: Detailed section needed when the property involves specific planning permissions or conditions
3. VAT: Required when the transaction is subject to VAT
4. Environmental Matters: Needed when there are environmental considerations or contamination issues
5. Management Company: Required for apartments or managed developments
6. Development Rights: Included when there are ongoing or future development rights to be addressed
7. Agricultural Provisions: Required for agricultural land sales
8. Conservation Requirements: Needed for protected structures or properties in conservation areas
1. Schedule 1 - Property Details: Detailed property description, including maps, plans, and boundaries
2. Schedule 2 - Title Documents: List of title documents and certified copies to be delivered on completion
3. Schedule 3 - Fixtures and Fittings: Inventory of items included and excluded from the sale
4. Schedule 4 - Planning Documentation: Copies of relevant planning permissions, certificates, and notices
5. Schedule 5 - Property Searches: Results of legal searches and enquiries
6. Appendix A - Property Maps: Official maps, including Land Registry maps and site plans
7. Appendix B - BER Certificate: Building Energy Rating certificate and advisory report
8. Appendix C - Service Contracts: Details of ongoing service contracts affecting the property
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