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Lot Sale Contract
"I need a Lot Sale Contract for the purchase of a 2-acre commercial lot in Ontario, with a closing date of March 15, 2025, including specific provisions for future retail development and municipal service connections."
1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the lot including boundaries, dimensions, and registration details
5. Purchase Price: Total purchase price, deposit requirements, and payment terms
6. Closing: Closing date, time, and location details
7. Due Diligence: Buyer's investigation rights and timeline for property inspection
8. Vendor's Representations and Warranties: Seller's guarantees regarding property title, condition, and compliance with laws
9. Purchaser's Representations and Warranties: Buyer's confirmations regarding financial capacity and understanding of the purchase
10. Conditions Precedent: Conditions that must be satisfied before closing
11. Title: Requirements for clear title and handling of title defects
12. Closing Deliverables: Documents and items to be exchanged at closing
13. Default and Remedies: Consequences of breach by either party
14. Notices: How formal communications between parties should be made
15. General Provisions: Standard legal clauses including governing law, assignment, and entire agreement
1. Environmental Matters: Used when environmental assessments or concerns need to be addressed
2. Development Obligations: Include when the lot sale involves specific development requirements or restrictions
3. Subdivision Conditions: Required when the lot is part of a larger subdivision with specific conditions
4. Service Installations: Used when discussing responsibility for utilities and services installation
5. GST/HST Certificate: Include when addressing tax implications of the sale
6. First Nations Considerations: Required when the property involves or affects First Nations lands or rights
7. Property Management: Include when there are interim period management requirements
8. Construction Timeline: Used when the sale includes specific construction or development deadlines
9. Financing Conditions: Include when purchase is subject to buyer obtaining financing
1. Schedule A - Legal Description: Detailed legal description of the property including survey references
2. Schedule B - Permitted Encumbrances: List of accepted encumbrances that will remain on title
3. Schedule C - Site Plan: Visual representation of the lot and its boundaries
4. Schedule D - Development Requirements: Specific requirements for development of the lot
5. Schedule E - Environmental Reports: Summary or copies of environmental assessments
6. Schedule F - Service Specifications: Details of utility and service requirements
7. Appendix 1 - Form of Transfer/Deed: Template of the transfer document to be used
8. Appendix 2 - Closing Documents Checklist: List of required closing documents
9. Appendix 3 - Property Photographs: Current photographs of the lot and any existing structures
Authors
Real Estate
Property Development
Construction
Urban Planning
Banking and Finance
Legal Services
Environmental Services
Land Surveying
Architecture
Municipal Development
Legal
Real Estate
Property Development
Construction
Land Acquisition
Environmental Compliance
Urban Planning
Project Management
Business Development
Risk Management
Real Estate Lawyer
Property Developer
Real Estate Agent
Land Development Manager
Construction Manager
Urban Planner
Real Estate Broker
Property Manager
Development Director
Acquisition Manager
Legal Counsel
Real Estate Investment Manager
Development Coordinator
Site Supervisor
Environmental Consultant
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