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PURCHASE AGREEMENT - PROPERTY



This Purchase Agreement Property (the Agreement) is effective [DATE],


BETWEEN:  [YOUR COMPANY NAME] (the "Vendor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

      [YOUR COMPLETE ADDRESS]


AND:  [YOUR COMPANY NAME] (the "Purchaser"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

      [COMPLETE ADDRESS]


BEFORE:    [INDIVIDUAL NAME] the undersigned witness in the [State/Province] of [STATE/PROVINCE].


1.  SALE

1.1  The Vendor does hereby sell, assign and make over with legal warranty to the Purchaser hereto present and accepting the following immoveable property namely:

[DESCRIPTION]

the whole as shown on the technical description and the plan prepared by on .


2.  POSSESSION

The Purchaser shall be the absolute owner of the presently sold Property as and from this date and will take possession thereof forthwith.


3.  VENDORS DECLARATIONS

The Vendor declares and warrants:

3.1  that the Property is free and clear of all hypothecs and encumbrances whatsoever;

3.2  that upon execution of the present Sale Agreement, the Purchaser shall have good and marketable title to the Property, free and clear of all encumbrances and rights with the exception of:

3.2.1  the servitudes in favor of created under the terms of the Deeds of Servitude registered at the [STATE/PROVINCE] Registry Office under numbers [NUMBERS];

3.3  that the Property is in conformity with all applicable laws, by-laws, ordinances, rules or regulations relating to fire, health, environment, building, zoning or police rules;

3.4  that the Vendor is classified as a [COUNTRY] Resident and not as a non resident person within the meaning of the Income Tax Act ([COUNTRY]) and the Taxation Act, [STATE/PROVINCE];

3.5  that there are no contracts, agreements, arrangement or understanding between the Vendor and/or its predecessor in title with any third parties affecting the Property and to which the Purchaser would be bond save and except the servitude referred to hereinabove;

3.6  that there are no claims, actions or judgments pending or outstanding which relate to the Property; and

3.7  that the Property is not subject to the provisions of the Cultural Property Act or to the Act to Preserve Agricultural Land or any regulations or ordinances hereunder.


4.  CONDITIONS

The present sale is thus made subject to the following charges and conditions, to the fulfillment whereof the Purchaser binds and obliges himself, namely:

4.1  to pay the costs of this Sale Agreement, of its registration and of the required copies;

4.2  to pay all assessments and rates, both general and special, already imposed or which may hereafter be imposed upon the said Property, as and from the date hereof, as well as all future installments of all assessments, payment whereof has been spread over a number of years;

4.3  not to call upon the Vendor to furnish any title deeds or certificates of search whatsoever, save and excepting those in his possession;

4.4  to take the Property in its present state and condition, having seen, viewed and examined the same and being therewith content and satisfied.


5.  PRICE

5.1  The present sale is thus made for and in consideration of the price and sum of [AMOUNT], payable by the issuance of a promissory note in the same amount from the Purchaser, which the Vendor herein does hereby acknowledge to have well and truly received, of and from the Purchaser herein, at the execution hereof, and whereof quit in full.

5.2  No new hypothec is herein created in favor of Vendor.


6.  SPECIAL DECLARATION OF THE PURCHASER

The Purchaser herein declares that it is not a Transferee.


7.  SPECIAL DECLARATION 
All of the parties hereto declare that they have specifically requested, and do hereby confirm their request, that the present contract be drafted and executed in the ENGLISH LANGUAGE.


8.  PARTICULARS REQUIRED  

8.1  Name and given name and address of the principal residence of the Vendor and/or Transferor:

[YOUR COMPANY NAME]
[YOUR COMPLETE ADDRESS]
[STATE/PROVINCE]

8.2  Name and given name and address of the principal residence of the Purchaser and/or Transferee:

[COMPANY NAME]
[FULL ADDRESS]

8.3  The immoveable Property herein sold and/or transferred is located in the following municipality: [MUNICIPALITY]

8.4  The Vendor and the Purchaser do hereby declare that the total value of the consideration of this present agreement is:
[AMOUNT IN LETTERS] 
([AMOUNT])

8.5  The amount of Transfer Duties, if applicable, would be:
([AMOUNT])



IN WITNESS WHEREOF, each party to this agreement has caused it to be executed at [PLACE OF EXECUTION] on the date indicated above.


VENDOR             PURCHASER




                          
Authorized Signature          Authorized Signature


                          
Print Name and Title          Print Name and Title

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