The Real Estate Disclosure Agreement (Real Estate) is a crucial document in Indian property transactions, mandated by the Real Estate (Regulation and Development) Act, 2016 (RERA) and other applicable real estate laws. This agreement is used whenever a property transfer is contemplated, requiring the seller to provide comprehensive information about the property's physical condition, legal status, historical background, and any known issues or defects. The document serves as a protective measure for both parties, helping prevent future disputes by ensuring transparency and full disclosure of material facts. It is particularly important in the Indian context where real estate transactions can be complex due to multiple regulatory requirements at both central and state levels. The agreement typically includes detailed schedules and appendices containing property documents, inspection reports, and regulatory certificates.
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1. Parties: Identification of all parties involved including seller, buyer, and any agents or representatives
2. Background: Context of the disclosure agreement and the proposed real estate transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including location, boundaries, and registration details
5. Seller's Disclosures: Mandatory disclosures about property condition, title, encumbrances, and known defects
6. Legal Compliance: Statements regarding compliance with RERA and other applicable laws
7. Property History: Details of previous ownership, usage, and any significant events affecting the property
8. Known Defects and Issues: Specific disclosure of all known defects, damages, or issues with the property
9. Environmental Matters: Disclosures regarding environmental conditions, hazards, or compliance issues
10. Representations and Warranties: Formal statements of fact about the property made by the seller
11. Acknowledgment: Buyer's acknowledgment of receiving and understanding the disclosures
12. Governing Law: Specification of applicable laws and jurisdiction
13. Execution: Signature blocks and execution details
1. Regulatory Approvals: Section detailing specific regulatory approvals when the property is subject to special zoning or usage restrictions
2. Tenant Details: Information about existing tenancies when the property is currently leased
3. Development Rights: Details of development potential and restrictions when applicable to undeveloped or partially developed properties
4. Common Areas: Specific disclosures about common areas and facilities for properties in multi-unit developments
5. Ongoing Litigation: Details of any pending legal proceedings affecting the property
6. Society/Association Rules: Details of applicable society rules and regulations for properties in housing societies
7. Future Development: Information about planned developments in the vicinity that might affect property value
1. Schedule A - Property Documents: List and copies of all relevant property documents including title deeds, tax receipts, and permits
2. Schedule B - Property Plans: Floor plans, site maps, and architectural drawings of the property
3. Schedule C - Inspection Reports: Reports from recent property inspections or assessments
4. Schedule D - Photographs: Recent photographs documenting the current condition of the property
5. Schedule E - Title Chain: Documentary evidence of the chain of title for the property
6. Schedule F - Encumbrance Certificate: Recent encumbrance certificate and details of any registered encumbrances
7. Appendix 1 - Maintenance Records: History of repairs, renovations, and maintenance work
8. Appendix 2 - Regulatory Certificates: Copies of all relevant regulatory certificates and approvals
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Property Development
Banking & Financial Services
Legal Services
Property Management
Hospitality
Retail
Healthcare
Education
Manufacturing
Technology
Professional Services
Relevant Teams
Legal
Real Estate
Compliance
Operations
Facilities Management
Risk Management
Corporate Services
Business Development
Property Management
Contracts Administration
Investment
Company Secretarial
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Compliance Officer
Property Manager
Real Estate Agent
Business Development Manager
Facilities Manager
Corporate Real Estate Manager
Risk Manager
Contract Administrator
Real Estate Analyst
Legal Director
Property Acquisition Manager
Real Estate Investment Manager
Company Secretary
Operations Director
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