Document background
The Deed of Absolute Sale With Assumption of Mortgage is a specialized legal instrument used in Singapore property transactions where the buyer agrees to take over the seller's existing mortgage obligations. This document is particularly relevant when the property has an outstanding mortgage and the buyer prefers to assume the existing loan rather than obtain new financing. The deed must comply with Singapore's strict property and banking regulations, including the Conveyancing and Law of Property Act and relevant MAS guidelines. It contains detailed provisions about the property transfer, mortgage terms, payment obligations, and necessary warranties, while ensuring all parties' interests are protected under Singapore law.
