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Rent To Own Property Contract
"I need a Rent To Own Property Contract for a 3-bedroom condominium in Singapore, with a 24-month rental period starting March 2025, where 40% of monthly rent will count towards the final purchase price of SGD 1.2 million."
1. Parties: Identifies and defines the landlord/seller and tenant/buyer
2. Background: Explains the context and purpose of the rent-to-own arrangement
3. Definitions: Defines key terms used throughout the agreement including relevant legislation references
4. Property Details: Specific description and details of the property including address, land title details, and included fixtures
5. Rental Terms: Rental period, amount, payment terms, and tenant obligations during rental period
6. Purchase Option: Terms and conditions of the purchase option including exercise period and process
7. Payment Structure: Details of rent credits, purchase price calculation, and payment mechanisms
8. Property Maintenance: Responsibilities for property maintenance and repairs during rental period
9. Default and Termination: Consequences of default and conditions for termination of agreement
10. General Provisions: Standard contractual provisions including notices, governing law, and dispute resolution
1. CPF Usage: Terms and conditions related to the use of CPF funds for property purchase
2. Foreign Ownership: Special conditions and requirements for foreign buyers under Singapore law
3. HDB Specific Terms: Additional terms and conditions specific to HDB properties
4. Stamp Duty Provisions: Specific provisions regarding payment of stamp duties and ABSD if applicable
5. Property Agent Declaration: Declarations and commission arrangements if property agents are involved
1. Schedule 1 - Property Inventory: Detailed list of fixtures, fittings, and furnishings included in the property
2. Schedule 2 - Payment Schedule: Comprehensive breakdown of rental payments, credits, and purchase price calculations
3. Schedule 3 - Property Condition Report: Detailed documentation of property condition at the start of agreement
4. Schedule 4 - Option to Purchase Template: Standard form for exercising the purchase option
5. Schedule 5 - Maintenance Schedule: Detailed breakdown of maintenance responsibilities between parties
6. Schedule 6 - Required Approvals: List of necessary governmental and regulatory approvals required
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