LOKK Legal provides a variety of services surrounding the purchase and sale of real estate. From ensuring the client is protected to the close to assisting the documents are proper, to actually physically coming out to the property to assist. LOKK Legal can assist you more than a traditional lawyer or lawfirm can.
In a real property transaction, the material factors to be ascertained from the written contract are the seller, the buyer, the price to be paid, the time and manner of payment, and the property to be transferred.
As a general rule, a contract for the purchase of land must be completely executed. That is, signed and delivered in order that it may be valid and binding.
The fundamental difference between a sale and an agreement to sell is that title passes when the contract is made in a sale, while in an agreement to sell title does not pass until later. A contract to convey contemplates that the transfer of title will be effected by the subsequent execution of a deed. To determine whether the language used effects a present conveyance or a promise to pass title, the instrument must be construed as a whole an the intention of the parties ascertained. The use of the word “sold” in the contract does not conclusively show a present sale.
When a contract is set out verbatim in a complaint, a finding that the vendor entered into an agreement in writing with the purchaser for the sale of land on terms set forth in the complaint is a sufficient finding that the purchaser executed the contract.
Though failure to affix the corporate seal, when documents in the sale of realty are executed by a corporation, does not affect the validity of the instrument, nevertheless the parties have the right to have documents regularly executed and are not required to accept an instrument bearing a seeming irregularity that might affect merchantability among persons not conversant with the rule.
Executory contracts for the sale of real property, like other contractors affecting title to real property, are construed according to the laws of the state or country in which the property is situated. Parties are presumed to have contracted with reference to laws in existence are the time the contract was made, and when a law affects the validity construction, discharge, or enforcement of a contract for the purchase and sale of land, it enters into and forms a part of it, measuring the obligations of one party and the rights of the others.