The Farm Purchase Agreement is a crucial legal instrument used in India for agricultural land transactions. It is specifically designed to address the unique aspects of agricultural property transfers under Indian law, including compliance with state-specific agricultural land reforms, revenue regulations, and land ceiling acts. This document is essential when purchasing or selling agricultural land, as it must incorporate specific provisions related to land use restrictions, agricultural subsidies, water rights, and existing farming arrangements. The agreement ensures proper documentation for registration with revenue authorities and sub-registrar offices, while addressing particular requirements such as land conversion permissions, agricultural tax compliance, and transfer of related agricultural benefits. It serves as a comprehensive record of the transaction terms while ensuring compliance with both federal and state-level agricultural property laws.
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1. Parties: Identification of the seller and purchaser with complete details including revenue records
2. Background: Context of the sale, including current ownership and agricultural usage history
3. Definitions: Key terms used in the agreement including property-specific and agricultural terms
4. Property Details: Comprehensive description of the agricultural land, boundaries, and area
5. Purchase Price: Amount, payment terms, and method of payment
6. Conditions Precedent: Conditions that must be satisfied before completion
7. Seller's Representations and Warranties: Declarations regarding title, encumbrances, land usage, and agricultural status
8. Purchaser's Representations and Warranties: Declarations regarding capacity to purchase and compliance with agricultural land ownership laws
9. Completion Obligations: Actions required at completion including documentation and registration
10. Post-Completion Obligations: Requirements after sale including mutation of records and agricultural compliance
11. Indemnification: Protection against losses due to breaches or misrepresentations
12. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
13. Notices: Communication methods and addresses for notices
14. General Provisions: Standard contract clauses including amendments, severability, and entire agreement
1. Agricultural Subsidies and Benefits: Transfer of existing agricultural benefits and subsidies - include if any exist
2. Crop Rights: Rights to standing crops and harvesting - include if there are existing crops
3. Water Rights: Special provisions for water access and irrigation rights - include if relevant
4. Foreign Investment Compliance: FEMA compliance clauses - include if purchaser is a foreign entity/NRI
5. Environmental Compliance: Special environmental obligations - include if property has sensitive environmental features
6. Labor Contracts: Transfer of existing agricultural labor arrangements - include if applicable
7. Equipment Transfer: Transfer of agricultural equipment - include if part of the sale
1. Property Schedule: Detailed property description, survey numbers, and boundary details
2. Title Documents: List of title documents and ownership history
3. Revenue Records: Copies of relevant revenue records and land use certificates
4. Encumbrance Certificate: Recent encumbrance certificate showing charges on property
5. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Land Maps: Survey maps and satellite images of the property
7. Existing Agreements: Copies of relevant existing agreements affecting the property
8. Compliance Certificates: Agricultural land ceiling clearances and other regulatory approvals
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