Purchase Agreement Letter
A Purchase Agreement Letter is written between two parties who concluded a transaction of an asset or a stock. The purchase agreement letter is a legally drafted letter which binds the contracting parties to the provisions mentioned in the letter. The letter must be preserved as a legal document of purchase of the property or an asset. The purchase agreement letter must include details about the provisions that are mutually acceptable to the contracting parties. the purchase agreement letter should be drafted with careful consideration.
The purchase agreement letter must be drafted without ambiguity. The provisions in the letter must be acceptable to both parties so that it prevents future misunderstandings and conflicts. The letter may include clauses that determine the responsibility of each party in respecting the contract. The letter may also mention the transfer of ownership rights between the two parties. The letter must be formally drafted and must be concise and to-the-point. The letter gives a legal form for an oral consideration.
The following is a Sample of a Purchase Agreement Letter.
Date: 22 July 1996
Subject: Purchase agreement letter.
Dear Mrs. Martha,
I am writing you this letter to bring to your notice that I wish to formalize the purchase of your 2-acre property on Hillview Street, Utopia on March 22, 1996. This letter shall serve as a legally binding document for which I am taking responsibility. The details about the purchase and the property are mentioned hereunder.
The property is a 2-acre plot located on Hillview Street, Utopia, east of the city of Munich, Utopia. The property was put up for sale by the erstwhile owner (Mrs. Martha Henson) on February 22, 1996. The property was listed for a price of 125,000 United States Dollars. The current owner of the property ( myself, Mrs. Abigail Adams) purchased the property on March 22, 1996, after full settlement of the price. The property was registered on March 25, 1996, at the Registrar of Properties, Hillview, Utopia after a registration fee in the line of 10% of the price of the property was paid into the exchequer of the city.
I am sending you this letter so as to bring to your notice that the property has been fully registered in my name as the sole owner of the property effective from 25th March 1996. Please contact me if you require any clarification regarding the same.