Contracts for the sale of land—formation, signature and variation


Published by a UUÂãÁÄÖ±²¥ Property expert
Practice notes

Contracts for the sale of land—formation, signature and variation


Published by a UUÂãÁÄÖ±²¥ Property expert

Practice notes
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This Practice Note looks at the requirements of the Law of Property (Miscellaneous Provisions) Act 1989 (LP(MP)A 1989) for creating a valid contract for the sale, or other disposition, of an interest in land.

It provides guidance on signing and exchanging contracts for the sale of land, the requirements for varying a property contract and also covers the options to consider when a contract does not meet the statutory requirements for a valid contract.

Introduction

A contract for the sale, or other disposition, of an interest in land is void unless it complies with LP(MP)A 1989, s 2. This provides that it must:

  1. •

    be in writing

  2. •

    contain or incorporate all of the terms expressly agreed by the parties in one document or, where contracts are exchanged, in each, and

  3. •

    be signed by or on behalf of each of the parties to it

The application of LP(MP)A 1989, s 2 is most commonly encountered in the context of:

  1. •

    contracts for the sale and purchase of land

  2. •

    agreements for lease (although

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Contract definition
What does Contract mean?

A contract is a legally binding promise (oral or in writing) by one person to fulfil an obligation to another person in return for consideration. A binding contract comprises four elements: offer, acceptance, consideration and intention to create legal relations.

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