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Mortgage Separation Agreement
"Need a Mortgage Separation Agreement for my HDB flat in Singapore, where I will take over full mortgage payments from my ex-spouse starting March 2025, with CPF usage to be clearly detailed and existing mortgage with DBS Bank to be restructured."
1. Parties: Identification and details of all parties involved in the agreement
2. Background: Context of the separation and existing mortgage arrangements
3. Definitions: Key terms used throughout the agreement
4. Property Details: Specific details of the mortgaged property and title information
5. Current Mortgage Status: Details of existing mortgage, outstanding amount, and current terms
6. Division of Responsibilities: Agreement on how mortgage payments and obligations will be handled post-separation
7. Term and Termination: Duration of the agreement and conditions for termination
8. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. CPF Usage: Details of CPF contributions and refunds when CPF funds were used for property purchase
2. HDB Specific Terms: Special conditions and requirements specific to HDB properties
3. Property Sale Provisions: Terms and conditions regarding potential future sale of the property
4. Insurance Requirements: Provisions regarding property and mortgage insurance obligations
5. Default and Remedies: Consequences and remedies in case of default by either party
1. Schedule 1: Property Details: Detailed property information including title details and property description
2. Schedule 2: Mortgage Information: Current mortgage statement, payment history, and outstanding obligations
3. Schedule 3: CPF Statement: Statement of CPF usage for property and refund obligations
4. Appendix A: Payment Schedule: Agreed schedule of mortgage payments between parties including payment dates and amounts
5. Appendix B: Valuation Report: Current property valuation details and assessment
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