This Agreement relates to the sale of freehold land by a company to an individual.

The Agreement contains the description of the subject property whose tenure is freehold – (specifically referred to as absolute or fee simple estate). This means that the vendor holds title in the property without restrictions as to a defined term of years and payment of rent as in the case of a leasehold tenure.

The Agreement also relates to the sale of land where the purchase price is payable by the purchaser in cash, that is, no part of it is to be financed and the purchaser purchases the property on a “as is where is” basis.