The Apartment Sale Contract is a fundamental legal document used in Hong Kong real estate transactions for the transfer of residential property ownership. This contract type is essential for compliance with Hong Kong's property laws, particularly the Conveyancing and Property Ordinance (Cap. 219) and the Land Registration Ordinance (Cap. 128). It should be used whenever a residential apartment is being sold in Hong Kong, whether in the primary or secondary market. The document captures critical details including property specifications, purchase price, payment terms, completion requirements, warranties, and obligations of both parties. It also addresses Hong Kong-specific requirements such as stamp duty obligations, title proving mechanisms, and property registration procedures. The contract serves as the primary reference point for all aspects of the transaction and subsequent property ownership transfer.
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1. Parties: Identification of the Vendor and Purchaser with their full legal names, addresses, and identification numbers
2. Background: Context of the sale, including brief property history and current ownership status
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, floor area, lot number, and registration particulars
5. Purchase Price: The agreed purchase price and payment terms including deposit and completion payment schedules
6. Completion: Details of the completion process, timing, and requirements for both parties
7. Vendor's Representations and Warranties: Warranties regarding property title, condition, and encumbrances
8. Purchaser's Representations and Warranties: Confirmations regarding purchase capacity and compliance with relevant laws
9. Title and Documentation: Requirements for proving good title and handling of property documentation
10. Taxes and Duties: Allocation of stamp duty and other tax obligations
11. Default and Termination: Consequences of default by either party and termination provisions
12. Notices: Process for serving formal notices between parties
13. Governing Law and Jurisdiction: Confirmation of Hong Kong law governance and jurisdiction
14. Execution: Signature blocks and execution requirements
1. Mortgage Details: Include when the purchase involves mortgage financing, detailing the mortgage arrangements and requirements
2. Tenancy Provisions: Include when the property is sold with existing tenancy, detailing handling of tenant deposits and lease arrangements
3. Furniture and Fittings: Include when the sale includes specific furniture or fittings, listing included and excluded items
4. Renovation Works: Include when there are ongoing or planned renovation works affecting the property
5. Car Parking Space: Include when the sale includes a parking space, detailing its specifications and terms
6. Property Management: Include when there are specific management fee arrangements or outstanding charges to be addressed
7. Pre-existing Defects: Include when there are known defects that need to be documented and addressed
8. Third-Party Consents: Include when the sale requires specific third-party approvals or consents
1. Schedule 1: Property Details: Detailed property specifications, including floor plans and boundary descriptions
2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Schedule 3: Inventory List: List of furniture, fittings, and other items included in the sale
4. Schedule 4: Title Documents: List of title documents and their locations
5. Schedule 5: Outstanding Fees: Details of any outstanding management fees, rates, or other charges
6. Appendix A: Property Floor Plan: Official floor plan showing property layout and dimensions
7. Appendix B: Land Search Results: Recent land search results showing property ownership and encumbrances
8. Appendix C: Completion Checklist: List of documents and actions required for completion
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