CONTRACT CONCERNING THE SALE OF A HOUSE MEASURING 10
KANAL AND ADJACENT LAND MEASURING 40 KANALS
Recitals
NAME S/O FATHER NAME, R/O ADDRESS, HOLDING CNIC CNIC NUMBER:
AND
NAME S/O FATHER NAME, R/O ADDRESS, HOLDING CNIC CNIC NUMBER:
Agreement
This Sale Agreement, hereinafter referred to as "Agreement") is made and entered into on this
[Date] between [Party A], having its registered office at [Address], hereinafter referred to as the
"Seller," and [Party B], having its registered office at [Address], hereinafter referred to as the
"Buyer."
WHEREAS, the Seller is the rightful owner of a house measuring 10 KANAL and adjacent land
measuring 40 KANAL, as described below, and is willing to sell the same to the Buyer for a sale
consideration of Rs. 50 Crore.
AND WHEREAS, the land in question is extremely mineral-rich and contains underground
natural aquifers or water reserves as well as different fruit trees.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained
herein, the parties agree as follows:
The terms and conditions of the instant agreement shall be
1. TERM- The term of this contract hereinafter referred to as the “TERM”, shall be from
the Date of this agreement till 1st July 2024 hereinafter referred to as the “Expiration
Date”). Provided however, if both parties reach to a mutual consent may extend term of
the contract. Provided that, the same shall be done by affecting a new contract with
extended date and the terms and conditions will be same as mentioned in this contract.
2. General Terms and Conditions- The general terms and conditions of the Agreement are
referred to as follows;
3. Definitions-
a) Applicable Law means any applicable statute, law, regulation, ordinance, rule, judgment,
rule of law, order, decree (including, without limitation, any consent decree), permit,
approval, license, requirement, or other governmental restriction or any similar form of
decision of, or any provision or condition of any permit, license or other operating
authorization issued under any of the foregoing by, or any determination by any
Governmental Authority having or asserting jurisdiction over the matter or matters in
question, whether now or hereafter in effect and in each case as amended (including
without limitation, all of the terms and provisions of the common law of such
Governmental Authority), as interpreted and enforced at the time in question
b) Business Day means a day on which banks are open for general commercial business in
Islamabad
c) "Property" shall mean the house measuring 10 KANAL and adjacent land measuring 40
KANAL, together with all fixtures and fittings therein.
d) "Agreement" shall mean this Sale Agreement.
e) "Closing" shall mean the completion of the sale and purchase of the Property.
4. SALE AND PURCHASE OF THE PROPERTY
4.1 The Seller hereby agrees to sell and the Buyer agrees to purchase the Property for a sale
consideration of Rs. 50 Crore.
4.2 The Buyer shall pay the sale consideration as follows:
• A sum of Rs. 25 Crore shall be paid by way of earnest money on or before [Date].
• The balance amount of Rs. 25 Crore shall be paid by way of cheque/demand draft/cash at the
time of Closing.
4.3 The Seller shall deliver possession of the Property to the Buyer on the Closing.
5. REPRESENTATIONS AND WARRANTIES
5.1 The Seller represents and warrants that:
• The Seller is the rightful owner of the Property.
• The Property is free and clear of all liens, encumbrances, and adverse claims.
• The Property is in compliance with all applicable laws, rules, and regulations.
5.2 The Buyer acknowledges and agrees that the Buyer has inspected the Property and accepts it
in its present condition and state of repair.
6. NO INTERFERENCE FROM NEIGHBORING LAND OWNERS
6.1 The Seller represents and warrants that there is no legal impediment or any possible
interference from neighboring land owners in future that may challenge the title of the Seller to
the Property.
6.2 The Buyer acknowledges and agrees that the Buyer has made all necessary inquiries and
satisfied itself with the representations and warranties made by the Seller.
7. EASEMENT
7.1 According to Section 26 Limitations Act 1908, the access and use of light and air is to be
allowed to be used peacefully according to the easement laws in Pakistan. It should be allowed to
enjoy without any disruption for twenty five years. The seller has given surety of the water ways
and assures that this land and house has full easement rights and the easement is being enjoyed
for the past 30 years. If any dispute over water ways arises and the buyer is not able to attain
water ways the seller will be held liable for it and it is the duty of the seller to fully help and take
responsibility to provide the buyer with water ways.
8. WATER WAYS
8.1 The Seller represents and warrants that the land in question does not retain rainwater and has
a decent waterway into neighboring adjacent lands, and they cannot stop or object to it.
8.2 The Buyer acknowledges and agrees that the Buyer has made all necessary inquiries and
satisfied itself with the representations and warranties made by the Seller.
9. GOVERNING LAW AND JURISDICTION
9.1 This Agreement shall be governed by and construed in accordance with the laws of Pakistan.
9.2 Any dispute arising out of or in connection with this Agreement shall be subject to the
exclusive jurisdiction of the courts of Pakistan.
IN WITNESS WHEREOF, the parties have executed this Sale Agreement on the day and year
first above mentioned.
Seller BUYER
NAME NAME
ADRESS ADRESS
CNIC CNIC
SIGNATURE SIGNATURE
WITNESS NO 1 WITNESS NO 1
NAME NAME
ADRESS ADRESS
CNIC CNIC
SIGNATURE SIGNATURE
