The Property Transfer Agreement is a fundamental legal instrument in Irish property transactions, used whenever real property ownership needs to be transferred between parties. This document is essential for both residential and commercial property transfers in Ireland, ensuring compliance with the Land and Conveyancing Law Reform Act 2009 and other relevant Irish legislation. It contains crucial information about the property, parties involved, purchase price, warranties, and completion requirements. The agreement serves multiple purposes: it documents the legal transfer of ownership, protects both parties' interests, ensures compliance with registration requirements, and provides clarity on all aspects of the transaction. It's particularly important in the Irish context due to specific local requirements regarding land registration, stamp duty, and planning regulations.
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1. Parties: Identification and details of the Transferor and Transferee, including full legal names, addresses, and any company registration details if applicable
2. Background: Context of the transfer, including brief description of the property and purpose of the transfer
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.
4. Agreement to Transfer: Core provision stating the agreement to transfer the property and the basic terms of the transfer
5. Purchase Price: Details of the purchase price, payment terms, and method of payment
6. Completion: Specifics about the completion date, completion requirements, and mechanics of transfer
7. Title and Registration: Provisions regarding proof of title, registration requirements, and title guarantees
8. Transferor's Warranties: Warranties given by the transferor regarding ownership, encumbrances, planning permissions, etc.
9. Property Condition: Statement regarding the condition in which the property is being transferred
10. Costs and Tax: Allocation of costs, stamp duty, and other tax obligations
11. Notices: Process for serving notices between parties
12. Governing Law: Confirmation that the agreement is governed by Irish law
13. Execution: Signature blocks and execution formalities
1. Environmental Matters: Required when there are specific environmental concerns or requirements relating to the property
2. Planning Permissions: Detailed section needed when the property has specific planning permissions or restrictions
3. Tenant Rights: Required when the property is subject to existing tenancies
4. Service Charges: Needed for properties subject to service charges or management company arrangements
5. VAT Elections: Required when the transfer has VAT implications
6. Family Home Protection: Required when the property is or was a family home requiring spousal consent
7. Mortgage Details: Required when there are existing mortgages to be discharged
8. Development Rights: Needed when transferring properties with development potential or restrictions
1. Schedule 1 - Property Description: Detailed description of the property including folio numbers, boundaries, and maps
2. Schedule 2 - Title Documents: List of title documents and their copies
3. Schedule 3 - Planning Permissions: Details of all planning permissions, certificates, and notices affecting the property
4. Schedule 4 - Encumbrances: List of any charges, mortgages, or other encumbrances affecting the property
5. Appendix A - Property Maps: Maps and plans showing the property boundaries and location
6. Appendix B - Property Photographs: Recent photographs of the property (if relevant)
7. Appendix C - BER Certificate: Building Energy Rating certificate and advisory report
8. Appendix D - Requisitions on Title: Standard requisitions on title and replies
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