The House Ownership Contract serves as the primary legal instrument for transferring residential property ownership in Singapore. This document is essential for both public (HDB) and private property transactions, incorporating all necessary elements required by Singapore law. It details the rights and obligations of both parties, property specifications, financial terms, and completion requirements. The contract must align with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and specific HDB rules where applicable. This comprehensive agreement protects both buyer and seller interests while ensuring compliance with all relevant property legislation.
House Ownership Contract for Singapore
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Key Requirements PROMPT example:
House Ownership Contract
"I need a House Ownership Contract for the purchase of a three-bedroom condominium unit in Singapore's East Coast area, with specific provisions for an existing tenant whose lease expires in March 2025 and inclusion of all built-in furniture."
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1. Parties: Details of the seller and purchaser, including full legal names and identification
2. Background: Context of the sale and purchase transaction
3. Definitions: Key terms used throughout the contract
4. Property Details: Full description of the property including address, lot number, and floor area
5. Purchase Price: Agreed price and payment terms
6. Completion: Timeline and conditions for completion of sale
7. Warranties: Seller's warranties regarding property title and condition
1. Mortgage Details: Required if property purchase involves financing - use when buyer requires bank financing
2. En-bloc Provisions: Details regarding collective sale rights - use for properties in developments eligible for en-bloc sale
3. Tenant Provisions: Details of existing tenancy - use when property is sold with existing tenants
1. Property Floor Plan: Detailed floor plan of the property
2. Inventory List: List of fixtures and fittings included in sale
3. Title Search: Official land registry search results
4. Property Tax Records: Recent property tax statements
5. Maintenance Records: History of property maintenance and repairs
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