Between contract and completion Clause Samples
Between contract and completion. 3.1. Unless the special conditions state otherwise, the seller is to insure the lot from and including the contract date to completion and:
3.1.1. produce to the buyer on request all relevant insurance details;
3.1.2. pay the premiums when due;
3.1.3. if the buyer so requests, and pays any additional premium, use reasonable endeavours to increase the sum insured or make other changes to the policy;
3.1.4. at the request of the buyer use reasonable endeavours to have the buyer’s interest noted on the policy if it does not cover a contracting purchaser;
3.1.5. (subject to the rights of any tenant or other third party) hold on trust for the buyer any insurance payments that the seller receives in respect of loss or damage arising after the contract date or assign to the buyer the benefit of any claim; and the buyer must on completion reimburse to the seller the cost of that insurance (to the extent not already paid by the buyer or a tenant or other third party) for the period from and including the contract date to completion.
3.2. No damage to or destruction of the lot nor any deterioration in its condition, however caused, entitles the buyer to any reduction in price, or to delay completion, or to refuse to complete.
3.3. Section 47 of the Law of Property Act 1925 does not apply.
3.4. Unless the buyer is already lawfully in occupation of the lot the buyer has no right to enter into occupation prior to completion.
Between contract and completion. The Seller must insure the Property in accordance with this contract up to the date of this contract. Once the contract for sale is signed, the Buyer bears all risk of loss or damage to the Property unless:
(a) The lot is sold subject to a tenancy that requires the Seller to insure the lot; or
(b) The special conditions require the Seller to insure the Property.
Between contract and completion. G3.1 Unless the special conditions state otherwise, the seller is to insure the lot from and including the contract date to completion and:
(a) produce to the buyer on request all relevant insurance details;
(b) pay the premiums when due;
(c) if the buyer so requests, and pays any additional premium, use reasonable endeavours to increase the sum insured or make other changes to the policy;
(d) at the request of the buyer use reasonable endeavours to have the buyer’s interest noted on the policy if it does not cover a contracting purchaser;
(e) unless otherwise agreed, cancel the insurance at completion, apply for a refund of premium and (subject to the rights of any tenant or other third party) pay that refund to the buyer; and
(f) (subject to the rights of any tenant or other third party) hold on trust for the buyer any insurance payments that the seller receives in respect of loss or damage arising after the contract date or assign to the buyer the benefit of any claim; and the buyer must on completion reimburse to the seller the cost of that insurance (to the extent not already paid by the buyer or a tenant or other third party) for the period from and including the contract date to completion.
G3.2 No damage to or destruction of the lot nor any deterioration in its condition, however caused, entitles the buyer to any reduction in price, or to delay completion, or to refuse to complete.
G3.3 Section 47 of the Law of Property Act 1925 does not apply.
G3.4 Unless the buyer is already lawfully in occupation of the lot the buyer has no right to enter into occupation prior to completion.