The Vacant Land Sale Contract is a crucial legal instrument used in Hong Kong for transactions involving undeveloped land. It is essential for property developers, investors, and individuals seeking to acquire vacant land for development or investment purposes. The document is specifically tailored to Hong Kong's unique legal framework, where all land is held under a leasehold system from the government. This contract type must comply with the Conveyancing and Property Ordinance (Cap. 219) and other relevant Hong Kong legislation. It includes comprehensive provisions covering property description, title requirements, conditions precedent, completion mechanics, and warranties, while addressing specific local requirements such as government lease conditions and town planning restrictions. The document is particularly important given Hong Kong's limited land supply and strict development controls.
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1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the sale and brief description of the vacant land
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the land, including the purchase price
5. Property Description: Detailed description of the land including lot number, area, and boundaries
6. Payment Terms: Structure and timing of payments, including deposits and completion payment
7. Conditions Precedent: Conditions that must be satisfied before completion can occur
8. Title and Title Documents: Vendor's warranty of good title and list of title documents to be delivered
9. Completion: Completion date, location, and requirements for completion
10. Vendor's Warranties: Warranties regarding the property's status, encumbrances, and compliance with laws
11. Default Provisions: Consequences of default by either party
12. Notices: Process for giving notices under the agreement
13. Governing Law and Jurisdiction: Confirmation of Hong Kong law and jurisdiction
1. Planning Permissions: Details of existing planning permissions or restrictions (include if property has specific planning conditions)
2. Environmental Matters: Environmental warranties and indemnities (include if environmental concerns exist)
3. Existing Encumbrances: Details of any existing encumbrances to be discharged (include if applicable)
4. Development Conditions: Specific conditions relating to future development (include if there are development restrictions)
5. Government Lease Conditions: Special conditions from government lease (include if there are specific lease conditions)
6. Stamp Duty Arrangements: Special arrangements for stamp duty payment (include for non-standard arrangements)
7. broker_commission: Terms regarding payment of broker commission (include if broker involved)
1. Property Details: Detailed property information including lot number, survey plans, and area calculations
2. Title Documents: List of all title documents to be delivered on completion
3. Form of Assignment: Draft form of the assignment to be executed on completion
4. Payment Schedule: Detailed breakdown of payment terms and installments
5. Planning Documents: Copies of relevant planning permissions and restrictions
6. Land Search Documents: Recent land search results showing current status of the property
7. Government Lease: Copy of the government lease and special conditions
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Relevant Industries
Real Estate
Property Development
Construction
Infrastructure
Urban Planning
Agriculture
Industrial Development
Commercial Development
Residential Development
Hospitality
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Relevant Teams
Legal
Real Estate
Property Development
Compliance
Investment
Operations
Finance
Risk Management
Project Management
Corporate Development
Acquisitions
Relevant Roles
Real Estate Director
Property Development Manager
Legal Counsel
Land Surveyor
Real Estate Agent
Property Investment Manager
Construction Manager
Urban Planning Director
Chief Development Officer
Real Estate Investment Analyst
Property Acquisition Manager
Legal Director
Compliance Officer
Real Estate Transaction Manager
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