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Deed Of Assignment Of Property

Deed Of Assignment Of Property Template for Singapore

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Deed Of Assignment Of Property

"I need a Deed of Assignment of Property to transfer my commercial warehouse in Singapore's Jurong district to my wholly-owned subsidiary company, with completion scheduled for March 15, 2025, and the property is currently subject to an existing mortgage with DBS Bank."

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What is a Deed Of Assignment Of Property?

The Deed of Assignment of Property is a crucial legal instrument in Singapore's property market, used when transferring ownership rights in real property. It must be prepared in accordance with Singapore's property laws and regulations, including the Land Titles Act and Conveyancing and Law of Property Act. The deed contains detailed information about the property being transferred, the parties involved, and the terms of the transfer. It requires proper execution, witnessing, and registration with relevant authorities. This document is particularly important in situations involving property sales, corporate restructuring, or family property transfers.

What sections should be included in a Deed Of Assignment Of Property?

1. Parties: Identifies the Assignor and Assignee with full legal names and addresses

2. Background: States the current ownership and reason for assignment

3. Definitions: Defines key terms used tHRoughout the deed

4. Property Details: Full legal description of the property being assigned

5. Consideration: States the amount paid for the assignment

6. Assignment Clause: The operative clause transferring the property

7. Assignor's Covenants: Warranties and representations by the assignor

8. Execution: Signature blocks and attestation

What sections are optional to include in a Deed Of Assignment Of Property?

1. HDB Compliance: Additional compliance requirements when the property is an HDB property

2. Spouse Consent: Special provisions and consent requirements when the property is a matrimonial asset

3. Mortgagee Consent: Consent provisions from existing mortgage holder when property is mortgaged

What schedules should be included in a Deed Of Assignment Of Property?

1. First Schedule: Detailed property description including lot number, strata title details

2. Second Schedule: List of encumbrances (if any)

3. Third Schedule: Existing tenancies or licenses (if any)

4. Property Title Documents: Copies of relevant title documents

5. Property Plans: Floor plans and location maps

6. Regulatory Approvals: Relevant governmental or regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Land Titles Act (Cap. 157): Primary legislation governing the registration and transfer of land titles in Singapore, establishing the Torrens system of land registration

Residential Property Act (Cap. 274): Regulates the purchase and ownership of residential properties by foreign persons and entities in Singapore

Conveyancing and Law of Property Act (Cap. 61): Governs the law relating to property transactions, transfer of interests in land, and legal requirements for property conveyancing

Housing and Development Act (Cap. 129): Regulates public housing in Singapore, including the sale, purchase, and transfer of HDB properties

Planning Act (Cap. 232): Controls the development and use of land and buildings in Singapore

Singapore Land Authority Regulations: Administrative rules and requirements set by SLA for property transactions and land management

HDB Rules and Regulations: Specific rules governing HDB property transactions, including eligibility criteria and transfer restrictions

Stamp Duties Act (Cap. 312): Governs the payment of stamp duties on property transactions, including additional buyer's stamp duty and seller's stamp duty

Property Tax Act (Cap. 254): Legislation concerning the taxation of properties in Singapore

Trustees Act (Cap. 337): Regulates situations where property is held in trust and the obligations of trustees

Mental Capacity Act (Cap. 177A): Ensures parties have the legal capacity to execute deeds and enter into property transactions

Legal Profession Act (Cap. 161): Governs the proper execution and witnessing of legal documents including property deeds

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