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A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.
Thomas Penn, governor of the Province of Pennsylvania from 1746 to 1775, c. 1752 Lappawinsoe, who sold regions of present-day eastern Pennsylvania and western New Jersey to the sons of William Penn in the Walking Purchase, c. 1735 A historical marker in Nockamixon Township, erected in 1949 by the Pennsylvania Historical and Museum Commission commemorating the Walking Purchase
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
In most jurisdictions, the real property interest created by the contract will pass to the buyer's heirs, while the seller's personal property interest created by the contract will pass to the seller's estate. The State of New York does not recognize equitable conversion. In New York, as long as the buyer is without fault, the risk of loss ...
In 1792, Cazenove arranged for the purchase of 1,500,000 acres (6,100 km 2) in northwestern Pennsylvania on behalf of the six houses. [4] [7] In addition to land, the Dutch investors bought American funds, including the South Carolina Funded Debt and the Massachusetts Deposit, and shares in the Pennsylvania Population Company.
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