Deed Of Sale Real Estate Property
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This Deed of Sale (the “Agreement”) is effective [DATE],
BETWEEN: [YOUR COMPANY NAME] (the "Vendor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
[YOUR COMPLETE ADDRESS]
AND: [COMPANY NAME] (the "Purchaser"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
[COMPLETE ADDRESS]
BEFORE [INDIVIDUAL NAME] the undersigned Notary of the State/Province of [STATE/PROVINCE], practicing in the City of [CITY].
APPEARED:
[COMPANY NAME], constituted under the Companies Act [SPECIFY] in the form of a company, having its head office and establishment directly concerned at [FULL ADDRESS], State/Province of [STATE/PROVINCE], herein acting and represented by [SPECIFY], its [SPECIFY] duly authorized for the purposes hereof under the terms of a resolution of the Board of Directors of the said company adopted on [SPECIFY] day, [SPECIFY] [YEAR] a certified copy of which resolution is hereto annexed after having been acknowledged as true and signed by the said representative with and in the presence of the undersigned notary (hereinafter called the “Vendor”);
- AND -
[COMPANY NAME], constituted under the [SPECIFY COMPANY ACT] the form of a company, having its head office at [FULL ADDRESS], Province of [STATE/PROVINCE], herein acting and represented by [SPECIFY], duly authorized for the purposes hereof under the terms of a resolution of the Board of Directors of the said company adopted on [SPECIFY DAY] [SPECIFY YEAR] a certified copy of which resolution is hereto annexed after having been acknowledged as true and signed by the said representative with and in the presence of the undersigned notary (hereinafter called the “Purchaser”).
SALE
The Vendor does hereby sell, assign and make over, with legal warranty, to the Purchaser hereto present and accepting, the following immoveable property namely:
An emplacement situated in the City of [CITY], State/Province of [STATE/PROVINCE], known and designated as:
Part of original lot number [NUMBER] RANGE [SPECIFY] on the land register of [NAME OF THE CITY], Registration [SPECIFY DIVISION].
Bounded and described as follows (Example):
To the north-east, by another part of lot [SPECIFY NUMBER], owned by the Municipality of [STATE/PROVINCE], measuring along the said line [NUMBER] meters; to the [SPECIFY DIRECTION], by another part of lot [SPECIFY NUMBER], owned by the Municipality of [STATE/PROVINCE], measuring along the said line [NUMBER] meters to the [SPECIFY DIRECTION], by another part of lot [SPECIFY NUMBER] known as [SPECIFY] street, measuring along the said line [SPECIFY] meters and [SPECIFY] centimeters (m); to the [SPECIFY DIRECTION], by another part of lot [SPECIFY NUMBER], owned by the Municipality of [SPECIFY], measuring along the said side [SPECIFY] meters and [SPECIFY] centimeters (m); forming an area of [SPECIFY].
The [SPECIFY DIRECTION] side is parallel and situated at a distance of [SPECIFY NUMBER] meters from the separating line between lots [SPECIFY NUMBERS], and the south-east corner is situated at a distance of [SPECIFY] meters, measuring along the [NAME OF THE STREET] Street to the [SPECIFY DIRECTION] side of road [NUMBER].
With a building thereon erected bearing the civic number [FULL ADDRESS], [STATE/PROVINCE].
(Hereinafter referred to as the “Property”)
TITLE AND POSSESSION
The Vendor acquired the Property in virtue of a Deed of Sale executed before [INDIVIDUAL NAME], Notary, on [EFFECTIVE DATE], and registered at the Re
gistration [SPECIFY DIVISION]
under the number [NUMBER] and a Deed of Correction executed before [INDIVIDUAL NAME], Notary, on the [DATE] day of [YEAR]
and registered at the [SPECIFY]
Registry Office under the number [NUMBER].
The Purchaser shall be the absolute owner of the presently sold Property as and from this date and will take vacant possession thereof forthwith.
VENDOR’S DECLARATIONS
The Vendor declares and warrants:
That the Property is free and clear of all hypothecs and encumbrances whatsoever, save and except the following assumed by the purchaser:
a Deed of Loan and Hypothec granted by [COMPANY NAME] [STATE/PROVINCE] in favor of [COMPANY NAME] and registered at said Registry Division under number [NUMBER];
That upon execution of the present Deed of Sale, the Purchaser shall have good and marketable title to the Property, free and clear of all encumbrances and rights;
That all assessments, taxes and rates, both general and special, affecting the Property, have been paid to date; the [COMPANY NAME] hereto hereby acknowledging that all adjustments will be made between themselves and to their mutual satisfaction, as and from the date of [DATE] [YEAR];
That the Property is in conformity with all municipal by-laws and regulations and any governmental regulations which may be applicable;
That it has not received any notice from any federal, provincial, municipal or other governmental authority, board, commission or agency having jurisdiction over the Property notifying the Vendor or placing it in default to conform to any [YOUR COUNTRY LAW], by-law, ordinance or regulation relating to fire, health, zoning, police rules or otherwise and the
Vendor is not aware of any violation or infraction thereof nor has it received any notice advising it of a proposed acquisition of any portion of the Property by such statutory bodies whether “à
l’amiable
”, or by expropriation, or in any way suggesting that a reserve is contemplated with respect to the Property;
That it has not received with respect to the Property, any notices, demands, orders or directions from any federal, provincial, municipal or other governmental authority, board, commission or agency, notifying the Vendor or placing it in default or requiring it to conform or perform work pursuant to any [YOUR COUNTRY LAW], regulations or by-laws relating to the protection of the environment;
That to its knowledge, the Property is not and has not been insulated with Urea-Formaldehyde foam and that it did not and does not contain any hazardous or waste products whether as landfill or otherwise;
That there are no contracts, agreements, arrangements or understandings between Vendor and/or its predecessors in title with any third parties affecting the Property or to which the Purchaser would be bound;
That there no claims, actions or judgments pending or outstanding which relate to the Property;
That the Property is the state and as described in the Certificate of Location prepared by [INDIVIDUAL NAME], [STATE/PROVINCE] Land Surveyor, on [DATE] under his minute number [NUMBER];
That the Property is not subject to the provisions of the
[SPECIFY YOUR COUNTRY CULTURAL PROPERTY ACT/LAW/RULE]
or of the
[YOUR COUNTRY AGRICULTURAL LAND PROTECTION ACT/LAW/RULE]
or any regulations or directives thereunder;
That the Vendor is classified as a [COUNTRY] Resident and not as a “non resident person” within the meaning of the Income Tax Act ([COUNTRY]) and the Taxation Act, [STATE/PROVINCE], ([YEAR] Statutes), the Vendor making this present declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made under oath and by and in virtue of the [COUNTRY] Evidence Act; and
That the Vendor declares that it has not contracted with any third party or real estate agent or broker and that no commissions or finder’s fee and alike in relation to the present sale is due and holds harmless the Purchaser in relation thereto.
CONDITIONS
The present sale is thus made subject to the following charges and conditions, to the fulfillment whereof the Purchaser binds and obliges himself, namely:
To pay the costs of this Deed, of its registration and of the required copies.
To pay all assessments taxes and rates, both general and special, already imposed or which may hereafter be imposed upon the Property, as and from the date hereof, as well as all future installments of all assessments, payment whereof has been spread over a number of years; the [COMPANY NAME] hereto hereby acknowledging that all adjustments will be made between themselves and to their mutual satisfaction, as and from the date of [EFFECTIVE DATE].
Not to call upon the Vendor to furnish any title deeds or certificates of search whatsoever, save and excepting those in his possession.
To take the Property in its present state and condition, having seen, viewed and examined the same and being therewith content and satisfied.
PRICE
The present Sale has thus been made for and in consideration of the
price or sum of [AMOUNT]
, lawful money of [COUNTRY], on account of which and in deduction whereof the Vendor acknowledges to have well and truly received of and from the Purchaser herein, partly before and partly at the execution her
eof, the sum of [AMOUNT]
, and whereof quit for so much.
As to part of
the balance of [AMOUNT]
the Purchaser assumes the payment in capital and interest
of said sum of [AMOUNT]
; owed by the V
endor to [SPECIFY BANK]
[STATE/PROVINCE] and the Purchaser declares he has taken communication of the said deed of loan and hypothec registered at said registry division under the number [NUMBER] and undertakes to fulfill all obligations therein mentioned toward the creditor; the [COMPANY NAME] having made adjustments between them to their satisfaction.
As to the remaining part of said bala
nce of sale of [AMOUNT]
or any part thereof at any time remaining unpaid, shall not bear interest and the Purchaser hereby undertakes to pay same to the Vendor by equal consecutive monthly installments of [AMOUNT] up to and including the [DATE] day of [MONTH] upon which date the ba
lance owing of [AMOUNT]
shall be paid by the Purchaser to the Vendor.
Place of payment and delivery of documents
Any payment, repayment, or delivery of documents due hereunder shall be made to the Vendor at the address designated herein below or at such other place as the Vendor may designate in writing to the Purchaser.
Prepayment
Notwithstanding the term hereinabove stipulated, the Purchaser may prepay the said balance of price of sale, without notice or indemnity.
To secure the repayment of the balance of price of sale in capital, costs, accessories, and the performance of all the obligations of the Purchaser herein, the latter hereby hypothecates in favor of the Vendor, in the amount of [AMOUNT] the Property presently sold.
The Purchaser binds and obliges himself to insure against loss by fire, and all other risks and perils normally covered by insurance, all the buildings which are or will be affected by the present hypothec for their full replacement value or, with the Vendor’s consent, to the extent of an amount which must never be less than the amount of present balance of price of sale plus all other sums secured by a higher-ranking hypothec or a prior claim on the immovable property herein sold.
The Purchaser hereby binds and obliges himself to ensure, as the Vendor’s mandatory, that the policies include the usual hypothecary clause in favor of the Vendor, to inform the insurer of the Vendor’s hypothecary rights, to deliver the policies to the Vendor, which policies shall contain the clauses usually stipulated in policies covering the same kind of risks, to maintain the policies in effect until full repayment of the present balance of price of sale, and to deliver to the Vendor, at least [NUMBER] days prior to the expiry of all such policies, receipts evidencing their renewal.
Should the Purchaser fail to fulfill any of these obligations, the Vendor, without prejudice to any of his other recourses, may take out any new insurance policies on the Purchaser’s behalf and claim the immediate repayment of premiums, with interest form the day of their payment at the rate stipulated hereinabove. The Vendor may also, at the Purchaser’s expense, notify any interested insurance company which has not yet received notice of the present hypothec, a copy or extract of these presents being sufficient for this purpose.
The Purchaser shall advise the Vendor of any loss or dame without delay and shall not undertake repairs or reconstruction until the Vendor has examined the premises and approved the proposed work. All insurance proceeds shall be paid directly to the Vendor to the extent of his claim. Notwithstanding any [YOUR COUNTRY LAW], usage, or custom to the contrary, the Vendor may impute the proceeds to the payment of his claim or he may return them, in whole or in part, to the Purchaser to enable the latter to rebuild or repair the immovable property, without, in either case, any reduction in or modification of the Vendor’s hypothec or other rights in any manner whatsoever, save by the signature of a notarial acquaintance acknowledging a reduction in the amount of the present balance of price of sale.
[TAX NUMBER] AND [TAX NUMBER]
The Purchaser represents and warrants to the Vendor that:
Purchaser is duly registered
under subdivision (d) of Part [SPECIFY]
of the
[YOUR COUNTRY] Excise Tax [ACT/LAW/RULE]
under the number l and as a result of such registration, the Vendor is relieved of its obligation, purs
uant to Section [SPECIFY] of such [ACT/LAW/RULE]
to collect from the Purchaser the tax, commonly referred
to as the [SPECIFY]
, imposed, inter alia, purs
uant to Sections [SPECIFY]
of the
[YOUR COUNTRY] Excise Tax [ACT/LAW/RULE]
.
The Purchaser represents and warrants to the Vendor that:
Purchaser is duly registered pursuant to th
e [STATE/PROVINCE] Sales Tax [ACT/LAW/RULE]
under number [NUMBER], and as a result of such registration, the Vendor is relieved of its ob
ligation pursuant to [SPECIFY SECTION] of such [ACT/LAW/RULE]
to collect the tax from the Purchaser, imposed, inter alia,
pursuant to [SPECIFY SECTIONS] of said [ACT/LAW/RULE]
.
SPECIAL DECLARATION OF THE PURCHASER
The Purchaser herein declares that he is not a Transferee within the meaning of the [YOUR COUNTRY LAND TRANSFER DUTIES ACT/LAW/RULE], the Purchaser making this present declaration conscientiously believing it to be true and knowing that it is of the same force and effect as if made under oath and by and in virtue of the [COUNTRY] Evidence [ACT/LAW/RULE].
PARTICULARS REQUIRED
PARTICULARS REQUIRED the Act Respecting Duties on Transfers of Immoveables
Name and given name and address of the principal residence of the Vendor and/or Transferor:
[COMPANY NAME]
[FULL ADDRESS]
[STATE/PROVINCE]
Name and given name and address of the principal residence of the Purchaser and/or Transferee:
[COMPANY NAME]
[FULL ADDRESS]
[STATE/PROVINCE]
The immoveable property herein sold and/or transferred is located in the following municipality:
[STATE/PROVINCE] [STATE/PROVINCE].
The Vendor and the Purchaser do hereby declare that the total value of the consideration of this present deed is:
[AMOUNT] And the taxable value under the Act [SPECIFY]
The amount of transfer duties is:
WHEREOF ACT:
THUS DONE AND PASSED in the District of [NUMBER] and of record in the office of the undersigned Notary under the number
AND after due reading hereof the parties signed with and in the presence of the said Notary.
[INDIVIDUAL NAME], NOTARY
Declarations in relation to of Article [NUMBER] of [YOUR COUNTRY ACT/LAW/RULE] Respecting Duties on Transfers of Immoveables.
OBJECT: Sale by [COMPANY NAME] to [COMPANY NAME] of a Property bearing civic address at [FULL ADDRESS] in [STATE/PROVINCE], Province of [STATE/PROVINCE], executed before [INDIVIDUAL NAME], Notary, on the [EFFECTIVE DATE] day of [YEAR] in the City and District of l and of record in the office of the undersigned Notary under number [NUMBER].
The undersigned make the following declarations:
1. Name and address of the principal residence of the Vendor and/or Transferor:
[COMPANY NAME]
[FULL ADDRESS]
[STATE/PROVINCE]
2. Name and address of the principal residence of the Purchaser and/or the Transferee:
[COMPANY NAME]
[FULL ADDRESS]
[STATE/PROVINCE]
3. The immoveable Property herein sold and/or transferred is located in the following municipality:
[STATE/PROVINCE], Province of [STATE/PROVINCE].
4. There has been no simultaneous transfer of a corporeal immoveable and moveables as stipulated at Section [SPECIFY] of the Act.
IN WITNESS WHEREOF, each party to this agreement has caused it to be executed at [place of execution] on the date indicated above.
VENDOR PURCHASER
Authorized Signature Authorized Signature
Print Name and Title Print Name and Title