Free Land Transaction Agreement Template

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Free Land Transaction Agreement Template

LAND TRANSACTION AGREEMENT

I. AGREEMENT OVERVIEW

This Land Transaction Agreement ("Agreement") is entered into on January 2, 2050, by and between:

Seller: [Your Company Name]
Principal Address: [Your Company Address]
Contact Person: [Your Name]
Email: [Your Company Email]

Buyer: IdeaMate
Principal Address: Las Vegas, NV 89101
Contact Person: Lawrence Orn
Email: inquire@ideamate.mail

This document serves as the formalization of the transaction in which the Seller agrees to sell, and the Buyer agrees to purchase, the land as outlined below.

II. DESCRIPTION OF PROPERTY

The land being sold under this Agreement is described as follows:

  • Location: 1122 Innovation Boulevard, Las Vegas, NV 89101

  • Land Type: Vacant Commercial Land

  • Parcel ID: 567-899-123

  • Size: 10 Acres

  • Legal Description:
    Lot 6, Block 4 of Innovation Business Park, as recorded in the public records of Clark County, Nevada, Deed Book 20, Page 58.

The Property is sold as-is, with no representations or warranties except those explicitly outlined in this Agreement.

III. TERMS OF PAYMENT

Total Purchase Price:

The agreed price for the Property is $800,000.

Payment Breakdown:

  • Deposit Amount: $80,000, to be paid upon execution of this Agreement.

  • Remaining Balance: $720,000, payable at the time of closing.

Payment Method: Payment shall be made via wire transfer to the Seller's designated bank account at the time of closing unless otherwise agreed upon.

IV. CLOSING DETAILS

  1. Closing Date: The closing will occur on or before March 30, 2050, unless both parties agree to an extension.

  2. Costs and Fees:

    • Seller’s Responsibility: Costs related to the preparation of the deed, title search, and recording fees.

    • Buyer’s Responsibility: Title insurance, survey fees, closing agent fees, and any applicable transfer taxes.

  3. Documents Required for Closing:

    • A deed transferring title from the Seller to the Buyer.

    • A title report confirming the absence of any encumbrances.

    • Any other documents required for financing, if applicable.

V. WARRANTIES AND REPRESENTATIONS

  • Seller’s Representations: Seller affirms it has the right to sell the Property and that the Property is free from liens and encumbrances unless otherwise disclosed.

  • Buyer’s Representations: Buyer confirms it has completed all due diligence and is legally able to proceed with the transaction.

VI. REMEDIES IN CASE OF DEFAULT

Seller’s Default:

In the event of Seller's default, Buyer has the right to:

  • Terminate the Agreement and recover the deposit, or

  • Pursue legal action for specific performance.

Buyer’s Default:

In case of Buyer’s default, Seller may:

  • Terminate the Agreement and retain the deposit, or

  • Seek legal remedies for breach of contract.

VII. GOVERNING LAW

This Agreement will be governed by the laws of the State of Nevada.

VIII. EXECUTION

The undersigned parties acknowledge and agree to the terms set forth in this Agreement.

For Seller: [Your Company Name]

By: [Your Name]
Title: Chief Executive Officer
Date: January 2, 2050

For Buyer: IdeaMate

By: Lawrence Orn
Title: Chief Development Officer
Date: January 2, 2050

For inquiries or further clarification, please reach out to [Your Name] at [Your Email] or [Your Company Email].

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