EXPRESSION OF INTEREST TO PURCHASE
1. PROPERTY AND PARTIES
__________ expresses interest in purchasing from __________ the property at __________ (__________): __________.
2. INDICATIVE COMMERCIAL POSITION
The indicative purchase amount presently under consideration is __________. The EOI is dated __________ and remains open for response until __________.
Legal effect: __________.
3. DUE DILIGENCE
The buyer seeks __________ and proposes __________ day(s) for that exercise before executing the definitive agreement.
Funding expectation: __________.
4. TOKEN, POSSESSION AND ITEMS
Token status: __________. Possession expectation: __________. Included-items basis: __________.
Broker position: __________.
5. NO TRANSFER
Section 54 of the Transfer of Property Act, 1882 provides that a contract for sale does not, of itself, create any interest in or charge on the property. This preliminary EOI is drafted even earlier in the process and does not transfer ownership or possession.
PERSONAL DATA NOTICE
This notice is given under the Digital Personal Data Protection Act, 2023. Personal data in this document is collected only to record the buyer’s preliminary interest, commercial parameters and proposed diligence before any agreement to sell, communicate about that purpose, verify information expressly supplied, and retain an evidentiary record.
The record will be held by __________ and may be shown only to the buyer, seller, authorised broker/agent, advocate, lender, valuer, project promoter, escrow/payment provider or statutory authority directly involved in the stated property transaction or verification.
If the proposed transaction does not proceed, or this document is withdrawn before it takes effect, the personal data will be retained for 90 days from that decision and then erased. If the transaction proceeds, the record will be retained for the term of the transaction plus 12 months and then erased, except for a record that a statute requires to be kept for a longer named period.
A person named in this document may withdraw consent for future consent-based processing, request correction or erasure when the stated purpose has ended, or raise a grievance by writing to __________. The record-holder should acknowledge and respond within 30 days.
Data minimisation: this document deliberately does not require a full Aadhaar number, Aadhaar-card copy, passwords or unrelated identity material. PAN, banking and financing information is included only in a document whose transaction purpose genuinely requires it.
Personal-data instruction: __________.
SIGNATURE
Buyer/signatory: __________
Buyer address: __________
Seller correspondence address: __________
Record-holder: __________