The Rental Contract With Option To Buy is a specialized agreement used in Singapore's property market when parties wish to combine a rental arrangement with a potential future sale. This document is particularly relevant when tenants need time to arrange financing or prefer to experience living in the property before committing to purchase. The agreement must comply with Singapore's strict property laws, including foreign ownership restrictions and stamp duty requirements. It typically includes detailed terms for both the rental period and the purchase option, including specific timeframes for exercising the option, purchase price calculations, and conditions for maintaining the option's validity.
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1. Parties: Details of landlord and tenant including full legal names, identification/registration numbers, and addresses
2. Background: Context of the rental arrangement and option to purchase, including property details and purpose of agreement
3. Definitions: Key terms used tHRoughout the agreement including 'Property', 'Option Period', 'Purchase Price', 'Rental Period'
4. Rental Terms: Comprehensive rental terms including rent amount, payment schedule, security deposit, and duration of lease
5. Option to Purchase Terms: Detailed terms of the purchase option including price, exercise period, and conditions for exercising the option
6. Property Description: Detailed description of the property including address, size, type, and included fixtures
7. Maintenance and Repairs: Rights and obligations regarding property maintenance, repairs, and improvements
8. Termination: Conditions and procedures for early termination, default, and consequences
1. Furnishings: Details of furnished items included in the rental, to be used when property is rented with furnishings
2. Utilities: Allocation of responsibility for utility payments and connections, used when utilities are not included in rent
3. Pets: Rules and conditions regarding pet ownership in the property, included when pets are permitted
4. Subletting: Terms and conditions for subletting the property, included when subletting is allowed
1. Schedule 1 - Property Inventory: Detailed inventory list of all fixtures, fittings, and furnishings included in the property
2. Schedule 2 - Property Condition Report: Comprehensive report documenting the condition of the property at the start of the tenancy
3. Schedule 3 - Option to Purchase Terms: Detailed terms and conditions for exercising the option to purchase
4. Appendix A - Floor Plan: Detailed floor plan showing property layout and measurements
5. Appendix B - Property Title Documents: Copies of relevant property title documents and certificates
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