A land transaction's contract data includes contractual information about the transaction, the value of the land parcels being sold, precontract information, and more.
Separate contract data exists for each land parcel involved in a land transaction. If a land transaction involves only one land parcel, you can edit its contract data by clicking the Edit (
) icon in the Contract Data section on the land transaction's details page.
Contract Data Section for Land Transaction with Single Land Parcel
If a land transaction involves multiple land parcels, you must select a land parcel in the Land Parcels section and click the Contract Data (
) icon.
Land Parcels Section on Land Transaction Details Page
You can then click the Edit () icon in the Contract Data section on the land transaction page for the selected land parcel.
Contract Data Section for Specific Land Parcel in Land Transaction with Multiple Parcels
Edit the contract data according to the terms of the transaction, and then click Save or Save and Close.
Data in the Precontract and Measurement sections is also edited by clicking the Edit () icon in the Contract Data section.
Field |
Description |
|---|---|
Order number |
The land transaction's order number. This value is inherited programmatically from the Number field in the land transaction details. |
Type of contract |
The type of transaction. You can select Sale or Acquisition. The price of the land parcel involved in the land transaction is a positive value if Acquisition is selected (i.e., your organization will pay the amount shown from acquiring the land parcel). The price is a negative value if Sale is selected (i.e., your organization will lose a negative amount, or gain the amount, by selling the land parcel).
Acquisition and Sale Represented as Positive and Negative Values |
Contract purpose |
A more specific descriptor of the contract. Selectable options are stored in the Contract Purpose catalog. |
Contract initiative |
The party that initiated the contract or sale (for example, Buyer or Salesperson). Selectable options are stored in the Contract Initiative catalog. |
Include building |
Whether buildings located on the land parcel are included in the transaction of the land parcel. This check box only appears if the contract data is for a land parcel that has a building located on it. |
Commitments under negotiation |
The current status of the contract for the sale or acquisition of the individual land parcel. The status selected here is represented in the land parcel's row in the Land Parcels section on the land transaction.
Land Transaction |
Contract area [m2] |
The area in square meters of the land parcel involved in the land transaction. If the Fixed Price check box is not selected, the value in this field is multiplied by the value in the m2-price field to yield the Purchase Price. |
m2-price |
The price per square meter of the land parcel involved in the land transaction. If the Fixed Price check box is not selected, the value in this field is multiplied by the value in the m2-price field to yield the Purchase Price.
Contract Area × m2 price |
Fixed price |
A check box that, if selected, allows you to manually enter the value of the land parcel involved in the land transaction in the adjacent text box.
Fixed Price |
Purchase price |
The price of the transaction of the land parcel minus the Urban Development Costs. This value is yielded by either •multiplying the value in the Contract area [m2] field by the value in the m2-price field. •selecting the Fixed Price check box and manually entering the value in the adjacent text box. Click Save to refresh the purchase price based on changes made in the form. |
Urban development |
The costs to prepare the land parcel for urban use. This value is associated directly with the land parcel whose contract data you are editing. You can edit a land parcel's ownership development costs in the Owner Information tab when you edit a land parcel's core details. |
Total price |
The total (Purchase Price + Urban Development costs) price your organization pays for the sale or acquisition of the land parcel. |
Precontract Data
Field |
Description |
|---|---|
Sent on |
The date the precontract was sent to the buyer or seller. |
Signed at |
The date the precontract was signed. |
Checked on |
The date the precontract was verified. |
Amendment to the agreement |
Any amendments to the land transaction based on the precontract. |
Measurement Data
Field |
Description |
|---|---|
Surveying required |
Whether surveying is required to complete the land transaction. |
Participants
In the Participants section, you can add parties involved with the land transaction, such as employees and companies.
Parties selected in the Participants field for a land parcel involved in a land transaction are listed as Contractual Partners for the land transaction.
Contractual Partners Shown on Land Transaction Details Page
Each land parcel involved in a land transaction must have a contractual partner assigned in order for you to finalize the land transaction.
Add Participants
You can add participants to a land transaction that involves one land parcel on the land transaction's details page, or on the contract data page for a land parcel being sold or acquired in the land transaction if the land transaction involves multiple land parcels.
To Add Participants
1.Navigate to the land transaction's details page.
▪If the land transaction involves only one land parcel, proceed to step 2.
▪If the land transaction involves multiple land parcels, select a land parcel in the Land Parcels section and click the Contract Data () icon.
2.In the Participants section, click the Additional Editing () icon.
3.Click the Add (
) icon.
4.Select a contact you want to add as a participant and click Apply, or double-click the contact.
You can select any employees (internal contacts listed in the Employees section on the Administration > Own Data > Tenant page) or companies.
5.If the participant being added should be listed as a contractual partner for the land transaction, select the Contractual Partner check box. Refer to Participant Details for all field descriptions.
6.Repeat steps 3-5 to add additional participants, as required.
7.Click Save or Save and Close.
Participant Details
Field |
Description |
|---|---|
Contact |
The contact, employee, or company stored in the VertiGIS FM database. Refer to Contact Management. |
Date of birth |
The date of birth of the party selected in the Contact field, if the party selected is a person. The input in this field allows others to distinguish between people who may have identical names. |
Name at birth |
The birth name of the party selected in the Contact field, if the party selected is a person. The input in this field allows others to distinguish between people who may have identical names. |
Meter |
This participant's share of the land transaction. For example, if there are three participants involved in a land transaction, each one may have a numerator of 1 and a denominator of 3. |
Denominator |
The total number of participant shares associated with the land transaction. For example, if there are three participants involved in a land transaction, each one may have a numerator of 1 and a denominator of 3. |
Contractual partner |
Whether the participant should be added as a contractual partner for the sale or acquisition of the land parcel. |
