The Contract For The Sale And Purchase Of Land is a fundamental legal document in Singapore real estate transactions. It is used when transferring ownership of land or property from one party to another, whether for residential, commercial, or industrial purposes. The contract must comply with Singapore's strict property laws and regulations, including the Land Titles Act and Residential Property Act. It typically includes detailed property descriptions, purchase price, payment terms, completion requirements, and warranties. The document is particularly important as Singapore follows a robust property registration system, and the contract serves as the basis for subsequent title transfer at the Singapore Land Authority.
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1. Parties: Details of vendor and purchaser, including identification and address
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including lot number, boundaries, and built-up area
5. Purchase Price: Agreement on price and payment terms including deposit
6. Completion: Timeline and conditions for completion of sale
7. Title and Ownership: Warranties regarding clean title and ownership transfer
8. Representations and Warranties: Standard warranties from both parties
1. Foreign Ownership Approval: Required section when purchaser is foreign, including approval requirements under Residential Property Act
2. Development Conditions: Specific conditions related to property development for undeveloped land or property under development
3. Tenancy Provisions: Details of existing tenancies when property is subject to ongoing lease agreements
4. Mortgage Discharge: Terms for discharge of existing mortgage when property has outstanding mortgage
1. Property Details Schedule: Detailed property specifications, floor plans, and boundaries
2. Payment Schedule: Breakdown of payment installments and timeline
3. Title Documents: Copies of relevant title documents and searches
4. Inventory List: List of fixtures and fittings included in sale
5. Existing Tenancy Documents: Copies of existing tenancy agreements if applicable
6. Property Condition Report: Current condition of property and any defects
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