¶¶Òõ¶ÌÊÓƵ

Option To Purchase Agreement Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Option To Purchase Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Option To Purchase Agreement

"I need an Option To Purchase Agreement for a commercial property in Singapore's CBD area, with a 3-month option period and staged payment terms, to be completed by March 2025."

Document background
The Option To Purchase Agreement is a crucial document in Singapore property transactions, serving as the preliminary step before a full sale and purchase agreement. It is commonly used in both residential and commercial property transactions where a potential buyer needs time to arrange financing or conduct due diligence. The document provides the grantee with exclusive rights to purchase the property within a specified timeframe while protecting the grantor's interests through the option fee. Under Singapore law, the agreement must include specific elements such as property details, purchase price, option period, and exercise conditions, while complying with relevant property and contract laws.
Suggested Sections

1. Parties: Identification and details of the option grantor and grantee

2. Background: Context and purpose of the option agreement

3. Definitions: Key terms used throughout the agreement

4. Option Grant: Terms of the option, including consideration and exercise period

5. Property Details: Specific description of the property or asset subject to the option

6. Purchase Price: Agreed price and payment terms

7. Exercise of Option: Procedure and requirements for exercising the option

8. Completion: Terms and conditions for completing the sale upon exercise

Optional Sections

1. Due Diligence: Terms for property inspection and verification - used for complex property transactions

2. Financing Conditions: Terms related to obtaining financing - used when buyer requires loan approval

3. Property Management: Interim management terms between option grant and exercise - used for income-generating properties

4. Tax Provisions: Specific tax arrangements and responsibilities - used for high-value transactions or complex tax situations

Suggested Schedules

1. Property Description Schedule: Detailed description of the property including boundaries and fixtures

2. Title Documents: Copies of relevant title documents and certificates

3. Form of Exercise Notice: Template for the formal notice to exercise the option

4. Payment Schedule: Breakdown of payment terms and installments if applicable

5. Property Plans: Floor plans, location maps, and other relevant drawings

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



































Clauses






























Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters in Singapore, including basic contract principles and legal requirements

Sale of Goods Act (Cap. 393): Regulates the sale of goods and provides framework for commercial transactions in Singapore

Contracts (Rights of Third Parties) Act: Governs how third parties may enforce terms of a contract in certain circumstances

Property Law Act: Fundamental legislation governing property rights and transactions in Singapore

Land Titles Act: Regulates the registration and transfer of land titles in Singapore

Housing Developers (Control and Licensing) Act: Regulates housing developers and provides protection for home buyers

Residential Property Act: Controls the purchase of residential properties by foreign persons and entities

Executive Condominium Housing Scheme Act: Specific legislation governing Executive Condominiums in Singapore

Housing and Development Act: Governs public housing (HDB) properties and related transactions

Council for Estate Agencies (CEA) Guidelines: Regulatory guidelines for real estate agencies and property transactions

Monetary Authority of Singapore (MAS) Guidelines: Financial regulations affecting payment terms and financial aspects of property transactions

Urban Redevelopment Authority (URA) regulations: Guidelines on property development, usage, and zoning requirements

Stamp Duties Act: Governs various stamp duties applicable to property transactions

Additional Buyer's Stamp Duty (ABSD) rules: Additional taxation rules for certain categories of property buyers

Seller's Stamp Duty (SSD) regulations: Taxation rules applicable to property sellers within specific timeframes

Consumer Protection (Fair Trading) Act: Protects consumers against unfair practices in transactions

Unfair Contract Terms Act: Regulates unfair terms in contracts and protects against unreasonable contract provisions

Singapore Law of Contract principles: Common law principles governing contract formation, validity, and enforcement

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

Find the exact document you need

Restricted Share Agreement

find out more

Rental Contract With Option To Buy

find out more

Option Sales Contract

find out more

Lease Agreement With Option To Buy

find out more

First Refusal Agreement

find out more

Commercial Lease With Option To Buy

find out more

Master Leasing Agreement

find out more

Lease To Own Land Agreement

find out more

Lease And Purchase Agreement

find out more

Land Lease Purchase Agreement

find out more

Land Buying Agreement

find out more

Cash Payment Agreement

find out more

Purchase And Lease Agreement

find out more

Option To Lease Agreement

find out more

Right Of First Refusal Agreement

find out more

Vehicle Lease To Own Agreement

find out more

Stock Option Agreement

find out more

Share Option Agreement

find out more

Option To Purchase Agreement

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.