Real estate purchase and sale agreement — is a legal document by which one party (the seller) transfers real estate to another party (the buyer) for a certain consideration. It establishes the rights and obligations of the parties, minimizing the risks associated with large transactions. The document also helps protect the interests of both parties and avoid possible legal disputes.

The main section of the document is the “Subject of the Agreement”. It specifies the exact characteristics of the property, including its address, area, cadastral number, as well as the rights confirming the seller’s ownership. A separate clause in the agreement specifies the presence or absence of encumbrances on the property and the seller’s legal rights to dispose of it.

The section “Rights and Obligations of the Parties” states that the seller undertakes to transfer the property in the specified condition and on time, and along with it all the necessary documentation for state registration of the transfer of ownership. The buyer, in turn, undertakes to pay the full cost of the property on time and accept the property in the specified condition.

The seller is responsible for concealing information about encumbrances or defects of the property, and the buyer for delayed payments. The terms of the sanctions are specified in the contract, and their fulfillment can be secured by a pledge or deposit.

The transfer of real estate occurs at the moment of signing the acceptance certificate, which is a mandatory appendix to the contract. The certificate confirms that the buyer has accepted the property and the seller has fulfilled his obligations.

Additionally, the conditions for termination of the contract in cases of violation by one of the parties or force majeure may be specified. At the same time, a real estate purchase and sale agreement usually requires notarization in the case of sale of shares or sale to minors.