In practice, a purchase and sale contract can be drafted in such a way that it contains one or more periods during which the buyer can terminate the contract without penalty, because a condition (for example. B satisfactory control of ownership or property) did not occur or sometimes occurred for no reason. In such cases, the buyer`s decision to terminate the contract within a specified time frame results in the same result as the buyer`s choice not to exercise his right to sell as part of an option to purchase. Whenever the country is to be divided into Pennsylvania, one must consider whether the subdivision or change in the use of roll-back taxes under the Pennsylvania Preferential Assessment Act, Act 319, commonly known as Clean and Green, will trigger. (See Clean and Green: Pennsylvania`s Preferential Tax Assessment Program for more information. Even if the subdivision does not trigger return taxes, the owner of a subdivided land may see the owner of the other parcel subdivided into a subsequent violation of the “Clean” and “Green” rules, which could trigger return taxes on both parcels, even if the owner is not liable. (This risk may persist seven years after subdivision). Administrative practices for clean and green data vary by county, and this risk does not occur if the county agency that manages the program introduces packages separately into the program after subdivision. However, if the county maintains the packages in common, it may be useful to include in the sales contract a provision that survives the closure and requires the owner who violates Clean and Green to pay the expected withdrawal tax on the non-injurious package. The rest of this guide addresses issues related to the creation of sales contracts, which often occur during conservation purchases but rarely appear in other real estate transactions, and provides examples of rules for addressing these problems.
The sales contract may be supplemented by a provision requiring landowners to provide the deed and other documents at the conclusion using a new legal description reviewed if the buyer chooses to receive it. The provision could be.B: if the purchase price is set in a sale agreement as a fixed amount (and not as a pro-acre amount), neither party is entitled to an adjustment to the purchase price if it turns out that the acreage is more or less than indicated in the agreement. When the purchase price is indicated as a price per hectare, a provision, such as the following, can be added to adjust the purchase price on the basis of the surface to be transmitted: in the review period covered by this agreement, a sales and sale contract is sometimes attached to document the parties` understanding of the transaction if the buyer chooses to exercise his option. to buy. A landowner may be willing to sell or negotiate his land or sell relief to an organization. But before responding to that will, like. B fundraising for the purchase, due diligence or other preparation for the acquisition, the organization will likely want to document the owner`s obligation to sell in writing. Otherwise, the organization may devote considerable time, energy and money to a transaction only to determine that the owner has changed his mind or has irreconcilable disputes with the organization regarding the details of the current transaction. The documentation of the owner`s commitment can be used both to legally engage the owner and to reduce the possibility of misunderstandings. A land trust can count on several funders to preserve the entire property, each funder financing the acquisition of different interests in the property and seeking in some cases an interest in the property itself: the public authority can support the purchase of forest biodiversity habitat; The county can direct its funds to place a conservation facility above the productive part of the land; A school district can invest its funds in a lease on farmland for school gardens; and the municipality can finance its funds in the acquisition of a public company