Sale of Property and Acceptable Title Sample Clauses
The 'Sale of Property and Acceptable Title' clause defines the seller's obligation to transfer ownership of the property to the buyer with a title that meets agreed-upon standards. Typically, this means the seller must provide clear, marketable title, free from undisclosed liens or encumbrances, and may require the delivery of specific documents such as a deed or title insurance. This clause ensures that the buyer receives legal ownership without unexpected claims or defects, thereby protecting the buyer's investment and facilitating a smooth transfer of property.
Sale of Property and Acceptable Title. SS' 1.01. Seller shall sell to Purchaser, and Purchaser shall purchase from Seller, at the price and upon the terms and conditions set forth in this Contract: (a) the parcel of land located in the City, County and State of New York, more particularly described in Exhibit A attached hereto and made a part hereof (the "Land"); (b) all buildings and improvements now or hereafter situated on the Land (collectively, the "Building") (the Land and the Building are hereinafter sometimes collectively referred to as the "Premises"); (c) all easements, rights-of-way, privileges, appurtenances and other rights pertaining to the Premises; (d) all right, title and interest of Seller, if any, in and to the land lying in the bed of any street or highway in front of or adjoining the Land to the center line thereof; (e) any unpaid award for any taking by condemnation or any damage to the Premises by reason of a change of grade of any street or highway or otherwise, and any award made or to be made in lieu thereof; (f) all right, title and interest of Seller, if any, in and to any strips and gores adjoining or adjacent to the Premises; (g) all plans, drawings, specifications, and surveys relating to the Premises and in Seller's possession or control; (h) all transferable guaranties and warranties relating to the Premises or the Personal Property (as hereafter defined) and in Seller's possession or control; (i) all transferable licenses, permits, and certificates in Seller's possession or control issued by any governmental authority relating to the use, occupancy or operation of the Premises or the Personal Property (collectively, the "Permits"); and (j) all right, title and interest of Seller, if any, in and to the fixtures, equipment, machinery, and other personal property located on, attached or appurtenant to the Property, including, without limitation the personal property described on Exhibit B annexed hereto and made a part hereof (collectively, the "Personal Property"), except for any items (the "Excluded Property") set forth in Exhibit C attached hereto and made a part hereof (the items described in clauses (a) through (j), other than the Excluded Property, are hereinafter collectively referred to as the "Property"). The Premises are commonly known as 415 Greenwich Street.
Sale of Property and Acceptable Title