Commercial Purchase and Sale Agreement
(Long Form) (TN)

Summary

This purchase and sale agreement may be used for the purchase and sale of commercial property in Tennessee. This template includes practical guidance and drafting notes. The length and specificity of a purchase and sale agreement vary depending on the size, type, and complexity of the property being acquired or sold, as well as the relative bargaining power of the parties. This template is suggested for use in Tennessee; however, local counsel should be engaged to ensure that all state-specific requirements are met and that the purchase and sale agreement complies with Tennessee law in all respects. For alternative purchase and sale agreements, see Purchase and Sale Agreement (Short Form) (Pro-Buyer) (TN) and Purchase and Sale Agreement (Short Form) (Pro-Seller) (TN). For information on choice of ownership structure in Tennessee, see Choice of Ownership Structure of Real Property (TN) and Commercial Real Estate Ownership (TN). For non-jurisdictional templates often used in connection with commercial purchases and sales that can be tailored to Tennessee requirements, see Mortgage Assignment Clause (Commercial Purchase and Sale) and Amendment to Commercial Purchase and Sale Agreement (Inspection Period Extension) (Pro-Buyer). For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For a list of key resources covering real estate-related tasks for associates, in-house attorneys, and interns, see First Year Associate Resource Kit: Real Estate, Summer Associate Resource Kit: Real Estate, In-House Real Estate Resource Kit, and Federal Government Summer Intern Resource Kit: Real Estate. For a list of key resources covering commercial purchase and sale-related tasks for a junior associate, see Junior Associate Real Estate Resource Kit (Commercial Purchase and Sale).