template

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

by
Genie Team
Genie Team
Oct, 10 2023

When to use this template

This legal template outlines the terms and conditions for an exclusive agreement between two parties for the selling and buying of land, either as freehold or leasehold properties, under UK law. The template is designed to provide a comprehensive framework that covers all essential aspects of the agreement, ensuring a clear understanding and protection of the rights and responsibilities of both the seller and buyer.

The template includes provisions for defining the property and its legal status, stating the agreed purchase price, and specifying any conditions or contingencies that need to be met before the sale can be finalized. It also outlines the responsibilities of both parties, such as ensuring compliance with applicable laws, obtaining necessary permits or consents, and disclosing any relevant information about the property.

Additionally, the template may include provisions governing the transfer of ownership, including the execution of necessary documents and payment terms, as well as any warranties or guarantees provided by the seller regarding the condition or title of the property. It may also cover dispute resolution mechanisms, confidentiality obligations, and any other specific terms agreed upon by the parties.

Overall, this legal template serves as a comprehensive and legally binding agreement for the exclusive sale and purchase of land, ensuring that both parties are protected and understand their rights and obligations throughout the transaction under the framework of UK law.

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

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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.

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Additional information

Business categories

Business activities

Relevant sectors

Construction

Wholesale

Real Estate

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