Closing Condition Requiring Compliance with the Subdivision Map Act (Commercial Real Estate Purchase and Sale) (CA) | Practical Law

Closing Condition Requiring Compliance with the Subdivision Map Act (Commercial Real Estate Purchase and Sale) (CA) | Practical Law

A Standard Clause for use in commercial purchase and sale agreements for unsubdivided real property in California. This Standard Clause requires a seller of unsubdivided real property to legally subdivide the property into a parcel or parcels that comply with the California Subdivision Map Act before the close of escrow. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both sellers and purchasers.

Closing Condition Requiring Compliance with the Subdivision Map Act (Commercial Real Estate Purchase and Sale) (CA)

by Practical Law Real Estate
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A Standard Clause for use in commercial purchase and sale agreements for unsubdivided real property in California. This Standard Clause requires a seller of unsubdivided real property to legally subdivide the property into a parcel or parcels that comply with the California Subdivision Map Act before the close of escrow. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both sellers and purchasers.