CONTRACT FOR A DISPOSITION OF A RIGHT OF OCCUPANCY (Sample)
This AGREEMENT for the disposition of the right of occupancy is made this ……………day of …………….20…………. between …………………. (hereinafter called “the vendor”) of P.O. Box ………………., ………………. of the one part and ……………….. (hereinafter called “the Purchaser”) of P.O. Box…………………., …………….., of the other part.
WHEREAS:
That the Vendor is the registered owner of Plot No ………, LO No ……………., Title No……….., located at ……………..area, ……………… District in ………………… Region, with all the Developments thereon (hereinafter called “the property”).
That the property occupies an area of …………….. Squire Metres and it is held under the right of occupancy for a term of …………..years from …………. ………….. 20…….
That the Vendor is desirous of selling the property to the Purchaser and the Purchaser has agreed to buy the said property from the Vendor on the terms and conditions hereinafter appearing:
NOW THEREFORE THIS AGREEMENT WITNESSETH as follows:
- That the Vendor hereby sells the property to the Purchaser and the Purchaser hereby purchases the said property hereinabove referred subject to covenants herein stipulated but otherwise free from any encumbrances whatsoever.
- That the Purchaser shall pay to the Vendor the consideration of Tanzania Shillings …………….. (……………………..) in toto.
- That the Purchaser shall pay to the Vendor Tanzania Shillings ………………….. (………………..) as a first instalment before the transfer of property is effected.
- That the Vendor shall pay all payments due to the Tanzania Revenue Authority (TRA) from the remaining …………………… (………………….).
- That the Purchaser shall pay stamp duty on the transfer, disbursements, consent fee, registration fee and other charges arising out of the and in connection with or incidental to the preparation and or this Agreement and the Deed of Transfer.
- That the parties hereto agree that they shall simultaneously with the execution hereof execute a Deed of Transfer for the conveyance of the property by the Vendor to the Purchaser.
- That immediately after the execution of the transfer deed by the parties hereto the Vendor shall surrender to the Purchaser all relevant documents relating to the property including exchequer receipts for payments of fees for the Certificate of Occupancy, land rent and all other relevant documents required for the registration of title to the property in the names of the Purchaser.
- That in the event that the Commissioner for Lands withholds his consent or that for whatever reason the transfer of the said property into the name of the Purchaser occupies the property into the name of the Purchaser is frustrated before the Purchaser occupies the property the parties hereto shall revert to the respective positions in which they were before entering into this agreement and all monies received by the Vendor from the Purchaser shall be refunded to the Purchaser in full.
IN WITNESS WHEREOF the parties hereto have executed these presents in the manner and on the dates and the year hereinafter appearing:
SIGNED and DELIVERED by the said )
……………………………………… ) ........................
who is personally known to me this 1st day of ) VENDOR
…………….. 20………………. in my presence. )
VENDOR’S WITNESS:
Name:…………………………………………………….
Signature:………………………………………………..
Address:…………………………………………………
Relationship:…………………………………………….
BEFORE ME:
Name: ………………………………
Signature:…………………………
Address: P.O. Box ………………. ………………………..
Qualification: ……………………………..
SIGNED and DELIVERED by the said )
…………………………………… who is personally known ) ……………………
to me this ………….day of …………..20…….., in my ) PURCHASER
presence. )
PURCHASER’S WITNESS:
Name:…………………………………………………..
Signature:………………………………………………
Address:………………………………………………..
Relationship:……………………………………………
BEFORE ME:
Name: ……………………………………….
Signature:…………………………………
Address: P.O. Box ……………. ………………….
Qualification: …………………………………
Drawn by:
…………………………………………………….
P.O. Box …………..,
………………………..
The contract disposition of the executions and it vendor of the relating purpose. The exchequer certificate of the title and it documents occupancy.Such a informative article.
ReplyDelete