Property Agreement Format in Urdu

PROPERTY AGREEMENT FORMAT IN URDU

(معائدہ جائیداد / پراپرٹی ایگریمنٹ فارمیٹ)

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1. Document Preamble & Recitals

This Property Agreement (hereinafter referred to as the "Agreement") is entered into and made effective as of [Effective Date] (the "Effective Date"), by and between:

First Party / Second Party (Parties):

1. First Party (Seller / Landlord): [First Party Full Legal Name], son/daughter of [First Party Father's Name], holding Computerized National Identity Card (CNIC) Number [First Party CNIC Number], residing at [First Party Complete Address] (hereinafter referred to as the "First Party", which expression shall, unless repugnant to the context, include its legal heirs, successors, executors, administrators, and permitted assigns).

2. Second Party (Purchaser / Tenant): [Second Party Full Legal Name], son/daughter of [Second Party Father's Name], holding Computerized National Identity Card (CNIC) Number [Second Party CNIC Number], residing at [Second Party Complete Address] (hereinafter referred to as the "Second Party", which expression shall, unless repugnant to the context, include its legal heirs, successors, executors, administrators, and permitted assigns).

Jurisdictional Background & Recitals: WHEREAS, the First Party is the absolute, lawful, and undisputed owner of the immovable property situated at [Complete Property Address, Plot/House Number, Block, Town, City], measuring [Area Size, e.g., 10 Marlas / 500 Sq. Yards], fully bounded and demarcated in the title documents, hereinafter referred to as the "Property"; and

WHEREAS, the First Party has agreed to sell/lease the said Property to the Second Party, and the Second Party has agreed to purchase/take on lease the same, subject to the terms, conditions, covenants, and stipulations hereinafter set forth in this Agreement under the laws of [Jurisdiction, e.g., Islamic Republic of Pakistan].

NOW, THEREFORE, in consideration of the mutual covenants, promises, and legal considerations contained herein, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

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2. Operational Definitions

For the purposes of this Agreement, the following terms shall have the meanings ascribed to them below, and such definitions shall apply to both the English text and its contextual application in Urdu translation:

1. "Agreement" means this comprehensive property agreement, including all recitals, schedules, annexures, and legally executed amendments attached hereto.
2. "Property" means the immovable real estate asset located at [Complete Property Address], including all structural improvements, fixtures, fittings, easements, and appurtenances attached thereto.
3. "Consideration Value" or "Purchase/Lease Price" means the total financial sum of [Numerical Amount, e.g., PKR 10,000,000] agreed upon by the Parties as the absolute monetary consideration for the transfer of rights.
4. "Default" means any breach, non-performance, violation, or failure by either Party to fulfill any material covenant, obligation, or warranty stipulated under this Agreement.
5. "Force Majeure" means any unforeseeable, unavoidable event beyond the reasonable control of the affected Party, including acts of God, war, civil insurrection, pandemics, natural disasters, or statutory government embargoes.
6. "Business Day" means any calendar day, excluding public holidays, on which scheduled commercial banks are officially open for routine financial transactions in [Jurisdiction].

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3. Substantive Terms & Obligations

1. Transfer of Rights / Possession: The First Party hereby covenants to transfer, assign, and hand over vacant, physical, and legal possession of the Property to the Second Party upon the realization of the full and final Consideration Value.
2. Payment Schedule: The Second Party shall pay the total Consideration Value of [Total Amount] strictly in accordance with the following milestone schedule:
   • Earnest Money / Advance Payment: [Advance Amount] paid upon the execution of this Agreement via [Payment Instrument/Cash/Bank Draft], receipt of which is hereby acknowledged by the First Party.
   • Interim Payment: [Interim Amount] payable on or before [Interim Date].
   • Final Balance Payment: [Final Balance Amount] payable on or before [Final Execution Date] prior to the execution of the final registered transfer deed.
3. Representations and Warranties of the First Party: The First Party explicitly warrants that:
   • The Property is free from all encumbrances, mortgages, liens, court stays, family litigation, and governmental dues.
   • The First Party possesses absolute, unassailable legal authority and marketable title to execute this transfer.
4. Taxes, Dues, and Utility Clearances: All outstanding property taxes, urban immovable property taxes, electricity, gas, water bills, and maintenance dues accrued up to the date of physical possession shall be meticulously cleared and paid off by the First Party. All subsequent charges shall be borne exclusively by the Second Party.
5. Execution of Formal Documentation: Both Parties shall appear before the competent Sub-Registrar / Revenue Authority within [Number] days of final payment to execute, register, and formalize the mandatory mutation (Inteqal) and sale/lease deed in favor of the Second Party.

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4. Default, Termination, and Remedies

1. Classification of Default: A Party shall be deemed in Default if it fails to perform any material obligation, breaches any warranty, or misses any mandatory financial deadline established within Section 3 of this Agreement.
2. Notice and Cure Period: In the event of a Default, the non-defaulting Party shall issue a written formal notice specifying the nature of the breach. The defaulting Party shall be granted a mandatory cure period of thirty (30) business days from the receipt of such notice to rectify and cure the said default completely.
3. Remedies for Purchaser’s Default: If the Second Party fails to make the balance payments within the stipulated timeframes and fails to cure the default within the 30-day cure period, the First Party shall be legally entitled to forfeit [Percentage, e.g., 10%] of the total earnest money as liquidated damages and terminate this Agreement.
4. Remedies for Seller’s Default: If the First Party backs out, refuses to complete the transaction, or fails to transfer the Property, the Second Party shall have the absolute right to institute legal proceedings for specific performance of the contract, recovery of the earnest money with penalty markup, and all actual damages incurred.

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5. Boilerplate Legal Provisions

1. Severability: If any provision, clause, or sub-clause of this Agreement is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be severed, and the remaining provisions shall continue in full force and effect.
2. Entire Agreement: This Agreement constitutes the entire, final, and exclusive understanding between the Parties concerning the Property, superseding all prior oral or written negotiations, representations, or understandings.
3. Force Majeure: Neither Party shall be held liable for any failure or delay in performance under this Agreement if such failure arises directly from a designated Force Majeure event, provided that the affected Party gives prompt written notice to the other Party.
4. Governing Law: This Agreement shall be governed by, interpreted, and construed in accordance with the substantive laws of [Jurisdiction, e.g., the Islamic Republic of Pakistan] and applicable local provincial statutes.
5. Dispute Resolution: Any dispute, controversy, or claim arising out of or relating to this Agreement, including its formation or breach, shall be settled amicably through mutual negotiation. If unresolved within fifteen (15) days, the dispute shall be referred to binding arbitration administered under the Arbitration Act, [Year], by a sole arbitrator mutually appointed by both Parties. The arbitration proceedings shall be held in [City/Jurisdiction], and the language shall be English or Urdu.

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6. Formal Execution Block

IN WITNESS WHEREOF, the Parties hereto have carefully read, understood, and executed this Property Agreement under their own free will, sound mind, and without any coercion, duress, or undue influence, on the Effective Date first written above.

First Party (Seller / Landlord)

• Entity / Individual Name: [First Party Full Legal Name]
• Authorized Signatory: [Signatory Name]
• Title / Capacity: [Title, e.g., Owner / Legal Attorney]
• CNIC Number: [First Party CNIC Number]
• Signature: ___________________________________
• Date: [Date]

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Second Party (Purchaser / Tenant)

• Entity / Individual Name: [Second Party Full Legal Name]
• Authorized Signatory: [Signatory Name]
• Title / Capacity: [Title, e.g., Purchaser / Lessee]
• CNIC Number: [Second Party CNIC Number]
• Signature: ___________________________________
• Date: [Date]

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Witness 1

• Name: [Witness 1 Full Name]
• CNIC Number: [Witness 1 CNIC Number]
• Address: [Witness 1 Complete Address]
• Signature: ___________________________________

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Witness 2

• Name: [Witness 2 Full Name]
• CNIC Number: [Witness 2 CNIC Number]
• Address: [Witness 2 Complete Address]
• Signature: ___________________________________