REALWorld Law

Sale and purchase

Form of contract

Are there formal requirements regarding the content and structure of a sale and purchase contract relating to real estate (SPA)?

Ukraine

Ukraine

Real estate sale and purchase agreements must be made in writing and notarized in accordance with the applicable legislation. Ukrainian law stipulates that agreements must contain certain essential provisions, including details of the parties, the specific details of the property and the purchase price.

The parties to the agreement also generally execute an instrument of transfer and acceptance in relation to the real estate.

What is a typical contract or SPA in this country like?

The content of the contract is negotiable.

Sale and purchase contracts for real estate (other than land) usually include the following:

  • Details of the property
  • The rights and obligations of the parties
  • The purchase price
  • The liability of the parties
  • Details of the underlying plot of land (its cadastral number and aggregate area), except in relation to a sale of premises in an apartment house, and
  • Other relevant terms

Sale and purchase contracts involving plots of land should include the mandatory conditions necessary for the effective fulfilment of the agreement (location and size of the plot of land, its cadastral number, purchase price, encumbrances, terms of transfer, timing of the transfer, etc).