The Outright Purchase Agreement is a fundamental commercial document used in India when one party intends to acquire complete ownership of goods, property, or assets from another party through a one-time transaction. This type of agreement is essential for documenting the permanent transfer of ownership rights and is commonly used across various industries for both movable and immovable property. The agreement must comply with Indian legal requirements, particularly the Indian Contract Act 1872 and the Sale of Goods Act 1930, while also addressing specific regulatory requirements depending on the nature of the purchase. It typically includes detailed provisions about the subject matter of sale, purchase price, payment terms, delivery mechanisms, warranties, and risk transfer. This document is crucial for establishing clear title, avoiding future disputes, and ensuring a legally binding transfer of ownership between the parties.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and provides full details of the seller and purchaser, including their legal status, registration details, and addresses
2. Background: Sets out the context of the transaction and brief description of what each party brings to the transaction
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and avoid ambiguity
4. Subject Matter of Sale: Detailed description of the goods/property being purchased, including specifications, quantity, and condition
5. Purchase Price: States the agreed purchase price and any applicable taxes or additional charges
6. Payment Terms: Specifies the method, timing, and conditions of payment, including any installments or security deposits
7. Delivery: Details of when, where, and how the goods/property will be delivered or transferred
8. Transfer of Title and Risk: Specifies when and how ownership and risk transfer from seller to purchaser
9. Seller's Representations and Warranties: Statements and guarantees about the goods/property, seller's authority to sell, and other relevant assurances
10. Purchaser's Representations and Warranties: Statements and guarantees about the purchaser's authority and ability to complete the purchase
11. Inspection and Acceptance: Process for inspecting the goods/property and accepting or rejecting them
12. Termination: Circumstances under which the agreement can be terminated and the consequences
13. Governing Law and Jurisdiction: Specifies that Indian law governs the agreement and establishes jurisdiction for dispute resolution
14. Notices: How formal communications between parties should be made and delivered
15. Execution: Signature blocks and execution formalities
1. Intellectual Property Rights: Required when the purchase includes any intellectual property, specifying rights transferred and retained
2. Confidentiality: Needed when sensitive information is exchanged during the transaction
3. Insurance: Include when specific insurance requirements exist during transition period or for high-value items
4. Force Majeure: Add when there's a need to address potential extraordinary events affecting performance
5. Assignment: Include when transfer of rights under the agreement needs to be restricted or permitted
6. Indemnification: Add for complex transactions or where specific risks need to be allocated
7. Training and Support: Required when the purchase includes technical equipment or systems requiring operational training
8. Maintenance and After-Sales Service: Include when ongoing support or maintenance is part of the purchase
9. Environmental Compliance: Add when the purchase involves items with environmental implications or regulations
1. Schedule 1 - Description of Goods/Property: Detailed technical specifications, photographs, drawings, or property details
2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price, including taxes and other charges
3. Schedule 3 - Payment Schedule: If payment is in installments, detailed payment timeline and amounts
4. Schedule 4 - Delivery Schedule: Detailed timeline and logistics for delivery or transfer of possession
5. Schedule 5 - Existing Encumbrances: List of any existing liens, encumbrances, or claims on the goods/property
6. Schedule 6 - Required Approvals: List of regulatory or third-party approvals needed to complete the transaction
7. Appendix A - Due Diligence Reports: Relevant inspection, valuation, or assessment reports
8. Appendix B - Compliance Certificates: Copies of relevant compliance certificates or regulatory approvals
Find the exact document you need
Forward Purchase Agreement (Real Estate)
An Indian law-governed agreement for the future purchase of real estate, typically used for under-construction properties, incorporating RERA compliance and statutory requirements.
Download
Discount Agreement
An Indian law-governed agreement establishing terms and conditions for commercial discount arrangements, including rates, criteria, and implementation procedures.
Download
Property Purchase Contract
An Indian law-governed agreement facilitating property ownership transfer between seller and purchaser, outlining sale terms and ensuring legal compliance.
Download
Investment Agreement Between Individual And Individual
A legally binding agreement under Indian law that structures and governs investment arrangements between two individuals, defining investment terms, rights, and obligations.
Download
Securities Purchase Agreement
An Indian law-governed agreement detailing terms and conditions for securities purchase and sale, ensuring regulatory compliance and protecting transacting parties' interests.
Download
Property Purchase Form
An Indian legal document facilitating property ownership transfer, compliant with the Transfer of Property Act and state regulations.
Download
Equipment Purchase Contract
A comprehensive agreement for equipment purchase and sale under Indian law, detailing specifications, pricing, delivery, and warranty terms.
Download
Buyback Agreement
An Indian law-governed agreement detailing terms and conditions for a company's repurchase of its own shares from shareholders, ensuring regulatory compliance.
Download
Vehicle Hire Purchase Agreement
An Indian law-governed agreement establishing terms for vehicle acquisition through hire purchase, with ownership transferring to the hirer upon completion of scheduled payments.
Download
Contingent Purchase Agreement
An Indian law-governed agreement for conditional purchase transactions, specifying contingencies that must be met before purchase completion.
Download
Advance Agreement For Land Purchase
A preliminary land purchase agreement under Indian law involving advance payment and purchase commitments between parties.
Download
Probate Purchase Agreement
An Indian law-governed agreement for the transfer of probate rights from an estate's executor/administrator to a purchaser.
Download
Letter Of Sales Agreement
A formal letter agreement governed by Indian law that outlines the terms and conditions of a sale between two parties.
Download
Buying Agency Agreement
An Indian law-governed agreement appointing a buying agent to conduct procurement activities on behalf of a principal company, outlining duties, commission structures, and operational procedures.
Download
Buy Tenancy Agreement
An Indian law-governed agreement combining property sale and tenancy terms, where the buyer becomes the landlord and the seller becomes the tenant.
Download
Purchase With Reservation Agreement
An Indian law-compliant agreement for property purchase where the seller retains specific rights or conditions during or after the transfer.
Download
Contract Between Supplier And Buyer
An Indian law-governed agreement establishing terms and conditions between a supplier and buyer for the sale and purchase of goods or services.
Download
Buy In Agreement
An Indian law-governed agreement documenting the terms and conditions for an investor or entity to acquire partial ownership in an existing business.
Download
Vehicle Purchase Agreement With Down Payment
An Indian law-governed agreement detailing the terms and conditions for vehicle purchase with structured down payment, including ownership transfer and warranty terms.
Download
Lot Purchase Agreement
An Indian law-governed agreement for the sale and purchase of land parcels, detailing terms, conditions, and obligations of the property transfer.
Download
High Purchase Agreement Form
An Indian law-compliant agreement enabling purchase of goods through installment payments with eventual transfer of ownership from financier to hirer.
Download
Gold Purchase Agreement
An Indian law-governed agreement establishing terms and conditions for gold purchase transactions, including regulatory compliance and quality assurance requirements.
Download
Token Purchase Agreement
An Indian law-governed agreement establishing terms for digital token purchase and sale, addressing regulatory compliance and transaction mechanics.
Download
Employee Laptop Purchase Agreement
An Indian law-governed agreement facilitating employee laptop purchase through company-arranged terms and installment payments.
Download
Apartment Sale And Purchase Agreement
An Indian law-compliant agreement for the sale and purchase of apartment property, detailing transaction terms and ensuring RERA compliance.
Download
Quota Purchase Agreement
An Indian law-governed agreement for the transfer of quota rights between parties, specifying terms, conditions, and regulatory compliance requirements.
Download
General Purchase Agreement
An Indian law-governed agreement establishing terms and conditions for regular commercial purchases between businesses, ensuring compliance with Indian contract and commercial laws.
Download
Buy Sale Agreement Form
An Indian law-compliant agreement documenting the terms and conditions for the sale and purchase of property or goods between parties.
Download
Outright Purchase Agreement
An Indian law-governed agreement for the complete transfer of ownership of goods, property, or assets from seller to buyer for a fixed consideration.
Download
Prepaid Forward Purchase Agreement
An Indian law-governed agreement for the advance purchase of assets with future delivery, structured under Indian contract and securities regulations.
Download
Bond Purchase Agreement
An Indian law-governed agreement establishing terms and conditions for the sale and purchase of bonds, ensuring compliance with SEBI regulations and Indian securities laws.
Download
Pre Purchase Agreement
An Indian law-governed agreement establishing preliminary terms and conditions for a proposed purchase transaction, serving as a legally binding framework before the final purchase.
Download
Future Purchase Agreement
An Indian law-governed agreement establishing terms for future purchases of goods or materials, including pricing, delivery, and quality specifications.
Download
Entity Purchase Agreement
A comprehensive agreement under Indian law governing the sale and purchase of a business entity or significant stake, incorporating all material transaction terms and regulatory compliance requirements.
Download
Retail Purchase Agreement
An Indian law-governed agreement between retailer and customer for the sale and purchase of retail goods, ensuring consumer protection and contractual clarity.
Download
Hardware Purchase Agreement
An Indian law-governed agreement establishing terms for hardware equipment purchase, including specifications, pricing, warranties, and regulatory compliance.
Download
Furniture Purchase Agreement
An Indian law-governed agreement establishing terms for furniture purchase, including specifications, pricing, delivery, and warranty provisions.
Download
Direct Purchase Agreement
An Indian law-governed agreement setting out terms and conditions for direct purchase of goods between buyer and seller.
Download
Company Purchase Agreement
An Indian law-governed agreement detailing the terms and conditions for purchasing a company, including transaction structure, price, and regulatory compliance requirements.
Download
Material Purchase Agreement
An Indian law-governed agreement establishing terms and conditions for material procurement, including specifications, pricing, delivery, and quality requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)