The Plot Sale Agreement is a fundamental document in real estate transactions involving undeveloped land in England and Wales. It is used when selling vacant plots, development sites, or agricultural land, providing a comprehensive framework for the transfer of ownership. The agreement typically includes detailed property descriptions, title information, planning conditions, and environmental provisions. It's particularly important for ensuring compliance with the Law of Property Act 1925 and the Land Registration Act 2002, while protecting both parties' interests throughout the transaction.
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1. Parties: Details of the seller and purchaser
2. Background: Context of the sale and property description
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the plot
5. Purchase Price: Amount, payment terms, and deposit arrangements
6. Title: Title guarantee and proof of ownership
7. Completion: Completion date and requirements
1. Planning Conditions: Used when sale is conditional on obtaining planning permission. Include when planning permission is not yet granted.
2. Environmental Provisions: Specific environmental obligations and warranties. Include when there are known environmental issues.
3. Development Obligations: Specific requirements for development of the plot. Include when seller wants to control future development.
4. Overage Provisions: Additional payment terms based on future value increase. Include when seller wants to share in future development value.
1. Schedule 1 - Property Description: Detailed description of the plot including plan
2. Schedule 2 - Title Matters: Details of existing rights, covenants, and restrictions
3. Schedule 3 - Planning Permissions: Details of existing planning permissions
4. Appendix 1 - Plan: Land Registry compliant plan of the plot
5. Appendix 2 - Title Documents: Copies of relevant title documents
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