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)?



An agreement for the sale of property must be in writing and by deed, it must also state the date of the transaction, details of the parties, describe the exact property, recite the root of title, state the consideration or purchase price, be properly executed by authorized persons and duly witnessed.

The parties are at liberty to agree on the terms of the transaction and the warranties which each undertake to provide to the other party.

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

The features of typical agreement states the parties full identity and details, the title history of the property, its location and description including the area of land it is comprised, the agreed purchase price and mode of payment (lump sum or instalment), residue of the term of years, sellers warranties to deliver possession, undisturbed enjoyment and assist with all information toward the registration of the buyers interest, delivery of sellers title deeds and other property documents to the buyer, indemnity against defects in title and provision for dispute resolution.