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Property Agreement Contract Template for Hong Kong

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Key Requirements PROMPT example:

Property Agreement Contract

"I need a Property Agreement Contract for the purchase of a commercial office space in Central, Hong Kong, with specific provisions for existing tenants and completion scheduled for March 2025."

Document background
The Property Agreement Contract is a fundamental legal instrument used in Hong Kong real estate transactions to document and formalize property sales and purchases. This document is essential when transferring property ownership in Hong Kong, whether for residential, commercial, or industrial properties. It must comply with Hong Kong's legal framework, particularly the Conveyancing and Property Ordinance (Cap. 219) and related legislation. The agreement typically includes comprehensive details about the property, purchase price, payment terms, conditions precedent, warranties, and completion requirements. It serves as the primary reference document throughout the transaction process and is crucial for both parties' legal protection, stamp duty assessment, and property registration purposes.
Suggested Sections

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

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

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

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

5. Purchase Price: Agreed purchase price and payment terms including deposits and completion payment

6. Completion: Details of completion date, procedures, and requirements

7. Title and Ownership: Warranties and representations regarding property title and ownership

8. Conditions Precedent: Conditions that must be satisfied before completion

9. Rights and Obligations: Specific rights and obligations of each party

10. Representations and Warranties: Standard and specific warranties given by each party

11. Default and Termination: Consequences of default and termination provisions

12. Stamp Duty: Obligations regarding payment of stamp duty

13. Costs and Expenses: Allocation of legal and other transaction costs

14. Notices: Process for giving formal notices under the agreement

15. Governing Law and Jurisdiction: Confirmation of Hong Kong law and jurisdiction

16. Execution: Signature blocks and execution formalities

Optional Sections

1. Mortgages and Charges: Required when the property is subject to existing mortgages or charges

2. Tenancies: Required when the property is subject to existing tenancies

3. Property Management: Required for properties in multi-unit buildings or estates

4. Renovation Works: Required when specific renovation or modification works are agreed

5. Car Parking Spaces: Required when car parking spaces are included in the transaction

6. Assignment Conditions: Required when there are special conditions for property assignment

7. Joint Ownership Provisions: Required when property is being purchased by multiple owners

8. Property Inspection: Required when specific inspection conditions are agreed

Suggested Schedules

1. Property Schedule: Detailed description of the property including floor plans and measurements

2. Inventory Schedule: List of fixtures, fittings, and contents included in the sale

3. Payment Schedule: Detailed breakdown of payment terms and installments

4. Existing Tenancy Schedule: Details of any existing tenancy agreements affecting the property

5. Title Documents: List of title documents and relevant land registry records

6. Outstanding Works Schedule: List of any agreed repairs or works to be completed

7. Property Management Rules: Relevant building management rules and regulations

8. Deed of Mutual Covenant: Terms of the building's deed of mutual covenant if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions







































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Relevant Industries

Real Estate

Banking and Finance

Legal Services

Property Development

Property Management

Construction

Investment

Residential Property

Commercial Property

Property Insurance

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Corporate Services

Risk Management

Operations

Investment

Finance

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Compliance Officer

Property Developer

Investment Manager

Real Estate Investment Director

Contract Manager

Property Valuer

Mortgage Specialist

Company Director

Legal Administrator

Real Estate Transaction Coordinator

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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