Land sale agreement format, Exercises of Law

Download Land sale agreement format and more Exercises Law in PDF only on Docsity!

Agreement for Sale

**1. Date: _________________

2. Nature of Document:** Agreement for Sale 3. Parties: Collectively the following which shall include their respective successors-in-interest.

3.1 Vendors: Collectively the following of the One Part : 3.1.1 ______________. 3.2 Purchaser: _____________ of the Other Part.

4. Subject Matter: The ‘Sali’ land measuring about ____ Decimals (Satak) in L.R. Dag No.____________, R.S. Dag No. _______, L.R. Khatian No.____, Mouza______, Block-____________, J.L. No.__, P.S. ______, Sub-Registry Office________, under _____Gram Panchayat, District ______, morefully described in Schedule (the “ Land ”). 5. Background: 5.1 The Vendors have represented (the “ Representations ”) to the Purchaser inter alia as follows: 5.1.1 The Vendors are joint owners, seized and possessed of and/or otherwise well and sufficiently entitled and having a good and marketable title to the Land. 5.1.2 The entirety of the said Land is in khas and vacant possession of the Vendors and no person or persons other than the Vendors has any right of occupancy, easement or otherwise on the Land or any part thereto. 5.1.3 There are no suits and/or proceedings and/or litigations pending in respect of the Land or any part thereof. 5.1.4 There is no Bargadar or water body in the Land and there is no case pending nor have the Vendors received notice of any such claim or proceeding. 5.1.5 No part of the Land has been or is liable to be acquired under and/or vested under the West Bengal Land Reforms Act, 1955 and/or under any other law and no proceedings have been initiated or are pending in respect thereof.

6.2 Consideration: At and for the total sum of Rs.__________/- (Rupees________________________) only, the Vendor has agreed to sell the Land to the Purchaser, calculated @Rs.________ /- (Rupees______________)only per Bigha. The Consideration has been fixed on the basis of the land area as mentioned in the Schedule and the said area shall be measured by the Purchaser and in case there be any variation then the Consideration shall also be proportionately increased or decreased). 6.2.1 Part Payment: Out of the Consideration, the Purchaser has, at or before execution hereof, paid to the Vendors the sum of Rs. 50,000/- (Rupees fifty thousand)only, the receipt whereof the Vendors hereby and by the Memo of Consideration below admit and acknowledge. 6.2.2 Balance Payment: Within 90 (ninety) days from the date hereof the Purchaser shall pay the balance sum of Rs._______/- (Rupees ______________________) to the Vendors. The amount of the Balance Consideration may be varied depending upon the final measurement of the Land. 6.3 Marketable Title: The Vendors shall make out a marketable title to the Land to the satisfaction of the Purchaser and/or its Advocates M/s. S. Jalan & Company of 6/7A, A. J. C. Bose Road, Kolkata-700 017 (the " Advocates ") and shall also satisfy them about the Representations. Simultaneously with the execution of these presents, the Vendors shall deliver photocopies of all original title documents and all relevant papers relating to the Land to the Purchaser and/or its Advocates for investigation of title and other searches. 6.4 Requisition on Title: The Purchaser shall be entitled to investigate title of the Vendors to the Land. The Vendors shall answer and/or comply with all requisitions on titles that may be required by the Advocates for and/or in connection with the title to the Land. 6.5 Rates & Taxes: All rates, taxes, cesses and outgoings in respect of the Land for the period upto the execution and registration of the Conveyance shall be borne and paid by the Vendors and thereafter by the Purchaser. In case of

default by the Vendors, the Purchaser shall be entitled to pay the same on account of the Vendors and deduct the same from the total Consideration. 6.6 Survey: At any time hereafter, the Purchaser shall be at liberty, at its own costs and expenses to cause survey of the Land and the total Consideration shall be finally calculated on the basis of the actual Land area found after physical survey of the Land. 6.7 Clearances: The Vendors shall obtain all permissions and clearances at their own costs and expenses including the necessary clearance from the Urban Land (Ceiling and Regulations) Act, 1976 from the appropriate authorities for completion of the sale in favour of the Purchaser, if required. 6.8 Restrictions: The Vendors shall not sell to any other person, save and except to the Purchaser and its nominee or nominees , nor enter into any agreement for sale or any other arrangements of whatsoever nature with any third party in connection with the Land or encumber the same in any manner whatsoever during the subsistence of this agreement. 6.9 Time: Time in all respects shall be of essence of this contract. 6.10 Original Documents: The Vendors shall hand over all original Title Deeds and documents in respect of the Land to the Purchaser at the time of execution and registration of the Conveyance in respect of the Land in favour of the Purchaser. 6.11 Conveyance: The Sale of the Land shall be completed with marketable title and free from all encumbrances and with delivery of khas, peaceful and vacant possession of the Land against full payment within 90(Ninety days) from the date hereof after making out marketable title to the satisfaction of the Purchaser’s Advocates and after the Vendors fulfilling all their obligations mentioned herein. 6.12 Possession: Simultaneously with the registration of the Conveyance in respect of the Land, the Vendors will hand over to the Purchaser peaceful and vacant possession of the Land.

expressed/intimated in writing and communicated by the party concerned to the other. 6.17 Indemnity: The Vendors agree to keep the Purchaser well and sufficiently saved, harmless and indemnified from and against all losses and damages in respect of the Land. 6.18 Jurisdiction: Courts within whose territorial jurisdiction the Land is situated shall have the sole jurisdiction to try and determine any litigation arising out of this Agreement for Sale. 6.19 Arbitration: All disputes between the Parties relating to this Agreement shall be referred to arbitration of an arbitral tribunal (the " Tribunal "), consisting of three arbitrators, one each to be appointed by the Vendors and the Purchaser and the third to be appointed by the two arbitrators so appointed. 6.19.1 The Tribunal shall be at liberty to: 6.19.1.1 Proceed summarily and not give any reason for its award. 6.19.1.2 Avoid all rules, procedures and/or evidences that can be lawfully avoided by the mutual consent and/or directions by the Parties. 6.19.1.3 Award damages along with the final award against the Party not complying with any interim award or order passed by the Tribunal. 6.19.2 The Tribunal shall: 6.19.2.1 Make the award within four months from the date of appointment with the right to give extension of not more than one month at a time on emergent grounds but the total extensions shall not be more than four months. 6.19.2.2 Conduct the proceedings from day-to-day and for about 5 hours per day save for initial sittings.

6.19.2.3 Not grant to either of the Parties any extension of time and/or adjournment except on grounds beyond their control and only for such periods as be of the absolute minimum. 6.19.3 The Award of the Tribunal will be final and binding upon the Parties. 6.19.4 The venue of the Arbitration shall be at Kolkata.

7. Schedule: (The Land) The ‘Sali’ land measuring about ______________________ TOGETHER WITH all the rights, liberties, easements, privileges, advantages and appurtenances thereto, as shown in the map annexed and bordered RED thereon and butted and bounded in the manner as follows: On the North: On the East: On the South: On the West: 8. Execution: In witness whereof the Parties have executed these presents at Kolkata on the day, month and year first above written. Executed and Delivered by the Vendors in the presence of :

Executed and Delivered by the Purchaser in the presence of :