Amendments to contract for sale—freehold vacant possession to create a sub—sale contract

Published by a LexisNexis Property expert
Precedents

Amendments to contract for sale—freehold vacant possession to create a sub—sale contract

Published by a LexisNexis Property expert

Precedents
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Clause 1 — Definitions

Amend the definition of Completion Date:

Completion Date

  1. [date] being the completion date fixed by the Original Contract;

Add the following definitions:

Original Contract

  1. an agreement dated [date] made between (1) the Original Seller and (2) the Seller, by which the Seller has contracted to purchase the Property from the Original Seller;

Original Seller

  1. [name];

Clause 3 — The transfer

For a sub-sale involving a single transfer, amend clause 3.3 to refer to the Original Seller:

The [Original] Seller is not required to transfer the Property otherwise than as a whole and to the Buyer at the Price.

For a sub-sale of part of the land in the Original Contract, consider inserting a new clause 3.4:

The Seller must [take a transfer OR procure the transfer to a third party] of the remainder of the land comprised in the Original Contract and agrees that that transfer must be completed simultaneously with the transfer of the Property to the Buyer.

Clause 5 — Title

Replace the text of clause 5.2 with the following:

The

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Jurisdiction(s):
United Kingdom
Key definition:
Freehold definition
What does Freehold mean?

The most extensive estate in land.

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