Suspensive conditions: drafting for enforceability
Suspensive conditions are meant to protect the parties while a transaction is contingent on an uncertain future event — most often bond approval or the sale of another property.
In practice, they are often drafted so loosely that neither party can determine when the condition has been fulfilled, waived, or has lapsed. Ambiguity here produces disputes that are wholly avoidable.
A workable condition sets out the event, the party responsible for procuring it, the timeframe, and the consequences of non-fulfilment. Where the condition is for the benefit of one party, the right to waive should be explicit.
The conveyancer's role begins before signature. A short review of the offer to purchase, before it is presented, prevents most of the difficulties that surface at transfer.
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