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Purchase And Lease Agreement

Purchase And Lease Agreement Template for Singapore

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Key Requirements PROMPT example:

Purchase And Lease Agreement

"Need a Purchase and Lease Agreement for our manufacturing facility in Singapore, where we're selling the property to a REIT for SGD 25 million and leasing it back for 10 years starting March 2025, with an option to extend for two additional 5-year terms."

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What is a Purchase And Lease Agreement?

The Purchase And Lease Agreement is a specialized contract commonly used in Singapore for sale-leaseback transactions, where a property owner sells their property but continues to occupy it as a tenant. This arrangement is particularly useful for businesses looking to free up capital while retaining use of their operational premises. The agreement must comply with Singapore's property and contract laws, including stamp duty requirements and registration procedures. It typically includes detailed provisions for both the sale transaction and the subsequent lease arrangement, including purchase price, payment terms, lease duration, rental amounts, and maintenance responsibilities.

What sections should be included in a Purchase And Lease Agreement?

1. Parties: Identification and details of all parties involved in the agreement

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used tHRoughout the agreement

4. Purchase Terms: Purchase price, payment terms, and conditions

5. Lease Terms: Rental amount, duration, and payment schedule

6. Property Description: Detailed description of the property being purchased and leased

7. Warranties and Representations: Statements of fact and promises made by parties

8. Completion: Process and requirements for completing the purchase

What sections are optional to include in a Purchase And Lease Agreement?

1. Financing Provisions: Additional terms and conditions when external financing is involved in the purchase

2. Property Management: Specific arrangements for maintenance and management responsibilities of the property

3. Option to Purchase: Terms and conditions for potential future purchase by the lessee

What schedules should be included in a Purchase And Lease Agreement?

1. Property Details Schedule: Detailed description of property, including floor plans and specifications

2. Payment Schedule: Detailed breakdown of payment terms and dates

3. Condition Report: Current condition of property at time of agreement

4. Maintenance Schedule: Details of maintenance responsibilities and schedules

5. Title Documents: Copies of relevant title documents and certificates

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
Relevant legal definitions


































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Industries

Civil Law Act (Cap. 43): Primary legislation governing general contract law principles, including requirements for contractual validity, rules regarding consideration and formalities

Sale of Goods Act (Cap. 393): Regulates the sale of goods, implies terms about quality and fitness, and governs transfer of title and risk in sale transactions

Conveyancing and Law of Property Act (Cap. 61): Regulates property transactions, requirements for property transfer, and legal formalities for property dealings

Planning Act (Cap. 232): Controls zoning requirements, land use restrictions, and development controls for properties

Landlord and Tenant Act: Regulates landlord-tenant relationships, defines rights and obligations of both parties, and covers termination provisions

Stamp Duties Act (Cap. 312): Governs requirements for stamp duty payment, applicable rates and timing, and documentation requirements for property transactions

Registration of Deeds Act (Cap. 269): Covers requirements for registration of property transactions, priority of interests, and legal effect of registration

Personal Data Protection Act 2012: Regulates handling of personal data, consent requirements, and data protection obligations in business transactions

Singapore Common Law: Relevant case law principles from Singapore courts that impact property and contract interpretation

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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