A Bargain Sale Deed is utilized in Singapore when transferring real property at less than fair market value, common in charitable donations or family transfers. It serves a dual purpose: part sale and part gift, allowing the seller to receive some consideration while still conferring a benefit on the buyer. The deed must comply with Singapore's strict property law requirements, including proper execution, witnessing, and registration with relevant authorities. This document type is particularly relevant when organizations or individuals wish to make a partial charitable contribution while still receiving some payment, or in family arrangements where property is transferred at a discount.
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1. Parties: Details of the seller and buyer including full legal names and addresses
2. Background: Context of the sale and brief property history
3. Definitions: Key terms used throughout the deed
4. Property Description: Detailed description of the property including lot number, boundaries, and size
5. Consideration: Purchase price and payment terms
6. Transfer of Title: Legal transfer of ownership provisions
7. Warranties: Seller's warranties regarding property title and condition
8. Execution: Signing requirements and attestation
1. Encumbrances: Details of any existing mortgages or liens (include when property has existing encumbrances)
2. Special Conditions: Any unique terms or conditions of sale (include when there are specific arrangements between parties)
3. Foreign Ownership Provisions: Additional requirements for foreign buyers (include when buyer is not a Singapore citizen)
1. Property Plan: Detailed plan showing property boundaries and dimensions
2. Title Documents: Copies of relevant title documents and certificates
3. Property Tax Records: Recent property tax assessments and payments
4. Encumbrance Documents: Details of any mortgages or liens (if applicable)
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