Contract To Sell Lot

Contract To Sell Lot Template for Singapore

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Key Requirements PROMPT example:

"I need a Contract To Sell Lot for a 500 square meter residential property in Singapore's District 10, with completion scheduled for March 2025 and including specific provisions for foreign ownership as the buyer is from Australia."

Document background

The Contract to Sell Lot is a crucial document in Singapore's property transactions, used when transferring ownership rights of land between parties. This contract type is essential for establishing the legal framework of the sale, including purchase price, payment terms, property specifications, and completion timeline. It must comply with Singapore's strict property laws and regulations, including the Land Titles Act and Urban Redevelopment Authority guidelines. The document is particularly important for protecting both parties' interests and ensuring a smooth transfer of property ownership.

Suggested Sections

1. Parties: Identification of seller and buyer with complete details including names, identification numbers, and addresses

2. Background: Context of the sale and current property ownership status

3. Definitions: Key terms used throughout the contract including Property, Completion Date, Purchase Price, etc.

4. Property Description: Detailed description of the lot including lot number, boundaries, area, and title details

5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment schedule

6. Conditions Precedent: Conditions that must be satisfied before completion including title searches and approvals

7. Seller's Warranties: Warranties regarding ownership, encumbrances, and property condition

8. Completion: Details of completion process, timing, and requirements

9. Default: Consequences of default by either party

10. Governing Law: Specification of Singapore law as governing law and jurisdiction

Optional Sections

1. Foreign Ownership Clause: Additional requirements and warranties for foreign buyers under the Residential Property Act

2. Development Conditions: Specific conditions related to property development and URA requirements for undeveloped lots

3. Environmental Warranties: Additional warranties regarding environmental condition and compliance for industrial or previously developed lots

4. GST Provisions: Special provisions regarding Goods and Services Tax if applicable to the transaction

Suggested Schedules

1. Schedule 1 - Property Plan: Detailed lot plan showing boundaries and dimensions

2. Schedule 2 - Title Search Results: Recent title search showing ownership and encumbrances

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

4. Schedule 4 - URA Zoning Certificate: Current zoning status and development restrictions

5. Schedule 5 - List of Deliverables: List of documents and items to be delivered at completion

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Construction
Property Development
Agriculture

Relevant Teams

Legal
Real Estate
Finance
Operations
Compliance

Relevant Roles

Property Manager
Real Estate Lawyer
Land Surveyor
Property Developer
Real Estate Agent

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How a Sales & Marketing Lead uses ��������Ƶ to reduce contract drafting time by 95%

Let's create your Contract To Sell Lot

Authors

Alex Denne

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