Legal Land Purchase Agreement Form for the State of Louisiana

Louisiana Land Purchase Agreement

This Louisiana Land Purchase Agreement (hereinafter referred to as the "Agreement") is entered into on this ___ day of ____________, ______, by and between ____________________ (hereinafter referred to as the "Seller"), whose address is ____________________, and ____________________ (hereinafter referred to as the "Buyer"), whose address is ____________________. Both parties shall collectively be referred to as the "Parties".

This Agreement is subject to the laws of the State of Louisiana, and any references to statutes are specific to those applicable within this state. The Parties agree as follows:

1. Property Description: The land to be purchased under this Agreement, located at ____________________, Parish of ____________________, State of Louisiana, legally described as follows: ____________________, is hereinafter referred to as the "Property".
2. Purchase Price and Deposit: The Purchase Price of the Property is $____________________. Upon execution of this Agreement, the Buyer agrees to deposit $____________________ with ____________________, as Earnest Money, to be held in escrow until closing. The balance of the Purchase Price shall be paid at closing.
3. Inspections: Buyer shall have the right, at Buyer's expense, to inspect the Property within ____________________ days following the execution of this Agreement. Inspections may include, but are not limited to, environmental assessments, soil tests, and surveys. If the Buyer finds any unsatisfactory conditions, the Buyer may at Buyer’s discretion, either proceed with the transaction or rescind this Agreement in writing.
4. Closing and Possession: Closing shall occur on or before ____________________, at a place to be designated by the Buyer. Possession of the Property shall be delivered to the Buyer at closing, free of all tenants, liens, and encumbrances, except as otherwise agreed in this Agreement.
5. Title and Escrow: Title to the Property shall be conveyed by a general warranty deed, showing marketable title in the Seller, subject to conditions, restrictions, and easements of record. The Seller agrees to provide the Buyer with a title insurance policy insuring the Buyer against losses due to any defect in title. Escrow shall be conducted by ____________________, chosen jointly by the Parties.
6. Adjustments and Prorations: Real estate taxes, rents, utilities, and other operating expenses of the Property will be prorated as of the closing date. The buyer is responsible for the payment of any state or local transfer taxes imposed by the sale.
7. Default: If either party fails to comply with the terms of this Agreement, the non-complying party shall be in default. Depending upon the nature of the default, remedies may include termination of the Agreement, pursuit of legal action for specific performance, or other relief as permitted by law.
8. Notices: All notices under this Agreement shall be in writing and shall be considered duly served when sent by certified mail, return receipt requested, to the party’s address specified at the beginning of this Agreement or such other address as may later be specified in writing.
9. Amendments: Any amendments or modifications to this Agreement must be made in writing and signed by both the Seller and the Buyer.
10. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Louisiana.
11. Entire Agreement: This Agreement, including any attachments or addenda, constitutes the sole and entire Agreement between the Parties with respect to the subject matter contained herein and supersedes all previous agreements and understandings, both written and oral, concerning this transaction.

IN WITNESS WHEREOF, the Parties have hereunto set their hands and seals on the dates written below their names.

Seller's Signature: _____________________________ Date: _________

Buyer's Signature: _____________________________ Date: _________