template

Exclusive Agreement For Selling And Buying Land (Freehold Or Leasehold)

by
Genie Team
Genie Team
Oct, 25 2022

When to use this template

An exclusivity agreement, also known as a lock-out agreement, is a legal document in which a seller agrees not to negotiate with another prospective buyer for a period of time. This agreement is for the sale and purchase of freehold and/or leasehold land.

Key issues covered in this template

  • Consideration
  • Exclusive Period
  • Seller's obligations
  • Non-solicitation
  • Seller must send the Transaction Documents to the Buyer's Conveyancer
  • Subordinate legislation
  • Termination for breach
  • Time of the essence
  • Title to Property
  • Buyer's obligations
  • Remedies for breach
  • Third party rights
  • N/A

What to watch out for

  • That the agreement is for the sale of freehold and/or leasehold land, and not for any other type of property;

  • That the agreement sets out a period of time during which the seller will not negotiate with another prospective buyer; and

  • That the agreement is signed by both the seller and the buyer

1

Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

A
Agriculture, Forestry and Fishing
100%

Additional information

Business categories

Business activities

Relevant sectors

Construction

Real Estate

Wholesale

Other

Relevant company sizes

1 - 3

20 - 49

250 - 999

4 - 19

50 - 249

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes