How to prepare legal forms (click here)

Agreement For Purchase Of Yacht

Identification of Parties. This Agreement is made on [date] between [name], whose address is [address] hereinafter referred to as "Seller", and [name], whose present address is [address] hereinafter referred to as "Buyer".

1. The Buyer agrees to purchase and the seller agrees to sell all rights, title and interest to the yacht or vessel described as: [name of yacht], [Make], [Type], [Length], [Registration number], [Model] and [Year].

2. The purchase price is $------. Sum of $------ is hereby paid to the trust account of the broker, acknowledged below, as a deposit toward the purchase price, and subject to the terms of this agreement; said funds to be cleared into said account following acceptance by Seller.

3. This offer to purchase shall be accepted by Seller, and written evidence thereof delivered to the selling broker on or before [Acceptance Date], or this offer shall be deemed revoked and the deposit shall be returned to the Buyer.

4. Written or telegraph acceptance or rejection of the vessel must be made by the buyer by [Reject Date]; Buyer’s failure to exercise his right of acceptance or rejection as specified shall be construed as rejection. In the event of rejection the deposit shall be returned to Buyer after all expenses incurred by Buyer against vessel have been paid.

5. (a) The sale of the vessel is subject to:

(b) In the event this sale is subject to survey, the Buyer acknowledges and agrees:

(I) He has selected a surveyor who is his employ and is responsible solely to Buyer for any errors or omissions, notwithstanding the fact that the broker may have provided information and assisted the buyer with hiring said surveyor.

(II) He shall instruct his agent or surveyors to examine and/or sea trial the vessel to ensure the vessel meets the Buyer’s requirements;

(III) All costs of the survey shall be at the expense of the Buyer, including but not limited to all associated costs such as haul out, dry dock charges and/or subcontractors, if applicable.

( c) In the event that the sale of the vessel is subject to sea trial or trial run, the Seller agrees that any sea trial which he authorises shall be made at Seller’s sole risk and expense.

6. If vessel is destroyed prior to closing by an Act of God, or other cause, the contract shall become null and void and the deposit, less all expenses incurred in behalf of Buyer, shall be paid to Buyer.

7. In the event the closing is not consummated due to non-performance of Buyer, including but not limited to a failure of Buyer to pay moneys due or execute all documents necessary to be executed by Buyer for completion of the purchase by the closing date, all deposit funds shall be retained by the Seller and Broker as liquidated and agreed damages, and the parties shall be relieved of all obligations under this Agreement. Buyer and Seller agree that the forfeited deposit shall be divided between Seller and Broker(s) with 50% going to the Seller and 50% to Broker(s) after all expenses incurred in behalf of Buyer against the vessel have been paid from the deposit.

8. In the event the closing is not consummated due to non-performance of Seller regarding any of the covenants in this contract, all money paid or deposited pursuant to this contract by the Buyer shall be returned to the Buyer upon demand, less all expenses incurred in behalf of Buyer; or the buyer shall have the right of specific performance. Upon Seller’s default, the Seller shall forthwith pay to...

(Excerpt)

Premium Contract: Ready to fill-in and print. Instant download only $22.50!