Download Utah Purchase Agreement Form [PDF]

The Utah purchase and sale agreement is a legal document that sellers and buyers use to determine their obligations and the terms under which they will conduct the sale and purchase of a certain item.

Although the purchase agreement itself doesn’t transfer any legal rights between the seller and the buyer, this document provides all the details related to the transfer, which prevents potential misunderstandings and disputes between the parties.

Utah Purchase and Sale Agreement Form

Parties who want to buy or sell a specific item use the purchase agreement as a document that regulates their relationship and often sets preconditions that must be fulfilled before they can move forward with the transaction.

The purchase agreement usually includes information about the buyer and seller, a description of the item, the purchase price, details about the financing, contingencies, and other terms and conditions related to the sale and purchase.

The Utah purchase agreement is also known as:

Other Names for Utah Purchase and Sale Agreement Form

Utah purchase and sale agreement
Utah sale and purchase agreement
Utah sale and purchase contract
Utah purchase and sales contract
Utah purchase agreement form

However, it all refers to one document that provides the terms and conditions for the property transfer in Utah.

Purchase Agreement Utah Laws & Requirements

In Utah, as a “buyer beware” state, the seller is not obliged to disclose any information regarding the property's condition and defects unless the property has been contaminated by the manufacturing, storage, or use of methamphetamine. (§ 57-27-201)

Moreover, if the agent is selling the property on behalf of the homeowner, they must inform the buyer about the property’s condition.

In other cases, the due diligence burden is on the buyer, and the seller sells the property “as is.”

Purchase Agreement Required Disclosures in Utah

Here, you can find the list of disclosures that must be included in the Utah purchase agreement template:

Mandatory Disclosures

Lead-Based Paint Disclosure: As mandated by 42 U.S. Code § 4852d, the seller is required to disclose to the buyer any lead-based paint hazard at the property. This requirement is set for properties with a known lead-based paint hazard or for properties built before 1978.
Seller’s Property Condition Disclosure: The real estate agent is required to fill out this form and inform the buyer of any defects that the property might have. (R162-2f-401a)

Common Types of Purchase Agreements in Utah

This section provides all the types of purchase agreements used in Utah:

Variety of Purchase Agreement

Residential real estate purchase agreement. Used for determining the conditions for selling and purchasing a house, apartment, or other kinds of property used for residential purposes.
Commercial real estate purchase agreement. Parties use it for transferring ownership over office space, warehouses, manufacturing facilities, and other kinds of commercial properties.
Vehicle purchase agreement. You can use it for the purchase and sale of cars, motorcycles, trucks, and other kinds of motor vehicles. Also known as the motor vehicle bill of sale.
Business purchase agreement. Used for providing terms and conditions for transferring the company's shares.
Land purchase agreement. You can use it to provide terms and conditions for the transfer of agricultural, residential, commercial, or other kinds of land in Utah.

Purchase Agreement in Utah FAQ

Yes, a purchase agreement is a legally binding document in Utah. However, it becomes legally binding only after both the seller and the buyer sign it.
Yes, a Utah sales agreement needs to state the purchase price. The purchase price is the main obligation of the buyer, and the document won’t produce any legal effects without it.
No, purchase and sales agreements in Utah don’t need to be notarized. This is due to the fact that the purchase and sales agreement doesn’t transfer any legal rights between the parties.
Yes, the seller can back out of the Utah purchase agreement after compensating the buyer. However, if the buyer fails to meet the contingencies set out in the document, the seller can back out of the purchase agreement without compensating the buyer.