Agreement for Sale of Land between an individual and a company – individual as seller – pro-purchaser- freehold land.
This agreement relates to the sale of land between an individual (natural person) and a company where the company is the purchaser.
The vendor signs in the presence of an advocates (or a notary public if signed outside Kenya).
The completion documents in this agreement constitute the vendor’s spouse’s consent to the sale, and if the vendor is not married, an affidavit to that respect.
The agreement contains the description of the subject property whose tenure is fee simple/absolute, meaning that the vendor holds/owns the land completely without a limitation of a term as compared to a leasehold tenure, which is limited by a set term in years, is subject to rent payment among other conditions.
It also contains warranties which protect the purchaser in case the vendor breaches any of them in that the purchaser can claim damages from the vendor.
The warranties subsist even after the completion of the sale and purchase transaction in that a purchaser will be entitled to claim damages at any time a warranty is breached.
However, in some instances, the warranties are normally limited to the completion of the sale and purchase transaction.