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Agreement For Sale Of Immovable Property

Agreement For Sale Of Immovable Property Template for Hong Kong

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Key Requirements PROMPT example:

Agreement For Sale Of Immovable Property

I need a standard Agreement For Sale Of Immovable Property for a residential flat in Hong Kong, with completion scheduled for March 2025 and vacant possession to be delivered at completion.

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Document background
The Agreement For Sale Of Immovable Property is a crucial legal document used in Hong Kong real estate transactions. It is required whenever there is a transfer of ownership of real property, whether residential, commercial, or industrial. The agreement must comply with Hong Kong's legal framework, particularly the Conveyancing and Property Ordinance (Cap. 219) and related legislation. It contains essential elements such as property details, purchase price, payment terms, completion arrangements, and warranties. The document is typically prepared by solicitors and requires careful consideration of stamp duty obligations, title issues, and any encumbrances affecting the property. It serves as the foundation for the conveyancing process and protects the interests of both parties in the transaction.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser

2. Background: Context of the transaction and brief property description

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement for the sale and purchase of the property

5. Purchase Price: Amount, payment schedule, and payment methods

6. Deposits: Initial and further deposit requirements, stakeholding arrangements

7. Completion: Completion date, procedures, and requirements

8. Property Inspection: Purchaser's right to inspect and condition of property

9. Title and Title Deeds: Vendor's obligations regarding proof of title and delivery of documents

10. Representations and Warranties: Vendor's warranties about the property and Purchaser's acknowledgments

11. Risk and Insurance: Transfer of risk and insurance obligations

12. Default: Consequences of default by either party

13. Stamp Duty: Obligations regarding payment of stamp duty

14. Notices: Method and addresses for serving notices

15. Governing Law: Hong Kong law as governing law and jurisdiction

16. Execution: Signature blocks and execution requirements

Optional Sections

1. Mortgage: Include when property is being sold subject to an existing mortgage or purchaser requires mortgage financing

2. Tenancies: Include when property is sold subject to existing tenancies

3. Car Parking Space: Include when sale includes parking space

4. Vacant Possession: Include when property is to be delivered with vacant possession

5. Furniture and Fittings: Include when sale includes specific furniture or fittings

6. Property Management: Include for properties in managed buildings or estates

7. Pre-existing Violations: Include when dealing with known building or planning violations

8. Agent Commission: Include when property agents are involved in the transaction

Suggested Schedules

1. Property Details: Detailed description of the property including lot number, address, and registered details

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Title Documents: List of title documents to be delivered

4. Inventory: List of furniture, fittings, and chattels included in the sale

5. Existing Tenancies: Details of any existing tenancy agreements

6. Property Inspection Report: Findings from property inspection

7. Building Management Details: Management fees, special fund contributions, and related matters

8. Deed of Mutual Covenant: Relevant extracts from the Deed of Mutual Covenant

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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Relevant Industries

Real Estate

Legal Services

Banking & Finance

Property Development

Property Management

Construction

Real Estate Investment

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Corporate Services

Risk Management

Business Development

Operations

Finance

Relevant Roles

Property Lawyer

Real Estate Agent

Property Manager

Legal Counsel

Conveyancing Manager

Property Developer

Bank Manager

Mortgage Specialist

Company Director

Real Estate Investment Manager

Property Acquisition Manager

Legal Secretary

Compliance Officer

Title Officer

Industries








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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