The Property Agreement is a crucial legal document used in Singapore real estate transactions to formalize property transfers between parties. It ensures compliance with Singapore's strict property regulations and provides a comprehensive framework for property dealings. This agreement is essential when transferring property ownership, whether residential or commercial, and must conform to various Singapore statutes including the Residential Property Act, Land Titles Act, and relevant SLA regulations. The document typically includes property details, payment terms, warranties, and completion requirements.
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1. Parties: Identification and details of all parties involved in the agreement
2. Background: Context and purpose of the agreement, including reference to relevant Singapore property laws
3. Definitions: Key terms used throughout the agreement, including statutory definitions from Singapore property legislation
4. Property Details: Specific description and location of the property, including lot number, strata title details if applicable
5. Price and Payment Terms: Purchase price, payment schedule, and details of any deposits or escrow arrangements
6. Completion: Terms and conditions for completion of the sale, including timing and procedures
7. Representations and Warranties: Statements of fact and promises by both parties regarding the property and their capacity to enter into the agreement
8. Title and Ownership: Provisions regarding clear title, transfer of ownership, and compliance with Singapore property ownership laws
9. Compliance with Laws: Obligations to comply with relevant Singapore property laws, regulations, and requirements
10. Termination: Circumstances under which the agreement may be terminated and consequences
11. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Financing Conditions: Terms related to mortgage or financing arrangements, to be included when buyer requires financing
2. Option to Purchase: Terms of option agreement, included when using option to purchase structure
3. Tenancy Provisions: Existing tenancy arrangements and obligations, included when property is currently tenanted
4. HDB Specific Provisions: Special provisions applicable to HDB properties, included when the property is an HDB flat
5. Foreign Ownership Provisions: Special provisions required under the Residential Property Act for foreign buyers, included when buyer is not a Singapore citizen
1. Schedule 1 - Property Details: Detailed description of property including floor plans, boundaries, and certificate of title details
2. Schedule 2 - Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale
3. Schedule 3 - Title Documents: Copies of relevant title documents, certificates, and property ownership history
4. Schedule 4 - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
5. Schedule 5 - Property Condition Report: Detailed report on the current condition of the property and any defects
6. Appendix A - Regulatory Compliance Checklist: Checklist of required regulatory approvals and compliance requirements under Singapore law
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