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Area Residential Purchase Contract Template for Singapore

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Key Requirements PROMPT example:

Area Residential Purchase Contract

"I need an Area Residential Purchase Contract for a three-bedroom condominium unit in District 10, Singapore, with completion date set for March 2025, including specific provisions for existing tenant arrangements and en-bloc potential."

Document background
The Area Residential Purchase Contract is a standardized agreement used in Singapore for residential property transactions. It ensures compliance with Singapore's strict property laws, including foreign ownership restrictions, stamp duty requirements, and property registration procedures. This contract type is essential for documenting the terms of sale, protecting both parties' interests, and meeting regulatory requirements. It includes crucial details about the property, payment terms, warranties, and completion conditions, while accommodating Singapore's unique property market characteristics such as HDB regulations and ethnic integration policies.
Suggested Sections

1. Parties: Identification of buyer and seller with full legal names and addresses

2. Background: Context of the transaction and property details

3. Definitions: Key terms used throughout the contract

4. Property Description: Detailed description of the property including address, lot number, and strata details

5. Purchase Price: Agreement on price and payment terms

6. Payment Schedule: Breakdown of payment timeline including deposit and completion

7. Completion: Terms and conditions for completion of sale

8. Warranties: Seller's warranties regarding property condition and ownership

Optional Sections

1. Foreign Ownership Approval: Required section detailing approval requirements and conditions for foreign buyers under the Residential Property Act

2. En Bloc Provisions: Section covering collective sale agreements and related terms for properties under potential en bloc sale

3. Tenant Provisions: Section detailing existing tenancy arrangements and transfer of tenant obligations

4. Renovation Terms: Section covering agreements regarding existing or planned renovations and associated approvals

Suggested Schedules

1. Schedule 1 - Property Floor Plan: Detailed floor plan with measurements and property boundaries

2. Schedule 2 - Inventory List: Comprehensive list of fixtures and fittings included in the sale

3. Schedule 3 - Title Search Results: Recent title search showing encumbrances and ownership history

4. Schedule 4 - Strata Title Information: Details of share value, maintenance fees, and strata regulations

5. Schedule 5 - Property Tax Statements: Recent property tax assessments and payment history

6. Schedule 6 - Maintenance Fee Schedule: Detailed breakdown of ongoing maintenance charges and management fees

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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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Industries

Housing and Development Act (Chapter 129): Primary legislation governing HDB properties, property ownership and transfers, and Ethnic Integration Policy requirements in Singapore

Residential Property Act (Chapter 274): Regulates foreign ownership of residential properties, land ownership rules, and approval requirements for foreign purchasers

Sale of Commercial Properties Act: Contains provisions affecting mixed-use developments and their residential components

Land Titles Act (Chapter 157): Covers property registration requirements, title transfer procedures, and caveat lodgment rules

Conveyancing and Law of Property Act (Chapter 61): Specifies legal requirements for property transfers and defines rights and obligations of parties in property transactions

MAS Guidelines: Monetary Authority of Singapore guidelines covering Loan-to-Value limits and Total Debt Servicing Ratio framework

Singapore Civil Law Act: Governs contract formation, validity, and legal requirements for property transactions

Stamp Duties Act: Regulates various property-related duties including Additional Buyer's Stamp Duty (ABSD), Buyer's Stamp Duty (BSD), and Seller's Stamp Duty (SSD)

Planning Act: Controls zoning regulations, property use restrictions, and development controls

Building Control Act: Establishes building safety requirements, renovation and modification rules

Singapore Law Society's Conditions of Sale: Professional guidelines established by the Law Society for property transactions

CEA Guidelines: Council for Estate Agencies guidelines governing real estate transactions and professional conduct

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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