A standard document for the sale and purchase of an owner-operated hotel. This document assumes that the completion date and effective time (and date) will be the same day, but there will be a gap between exchange of contracts and completion.

This document is not maintained.

Note that due to its nature, this document was not drafted to provide the buyer with the detailed protections included in a more complex form of sale and purchase agreement although the property and health and safety warranties were comprehensive. Subscribers that need a short form asset purchase agreement can use Standard document, Asset purchase agreement short form.

If the transaction involves a large hotel or hotel chain, subscribers should instead refer to Standard document, Asset purchase agreement. However, note that this document is only available to those subscribers who have access to Practical Law Corporate as part of their subscription. It provides a buyer with detailed protections.