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Property Co Ownership Agreement Template for Singapore

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Key Requirements PROMPT example:

Property Co Ownership Agreement

"I need a Property Co-Ownership Agreement for a three-bedroom condominium in Singapore that I'm purchasing with my sister in January 2025, where we will have unequal ownership shares (70-30 split) and need specific provisions for rental income distribution."

Document background
The Property Co-Ownership Agreement is essential when two or more parties wish to jointly own property in Singapore. This document is commonly used for investment properties, family arrangements, or shared residential purposes. It details crucial aspects such as ownership structure (joint tenancy or tenancy in common), financial obligations, maintenance responsibilities, and exit strategies. The agreement must align with Singapore's property laws and regulations, including the Civil Law Act, Land Titles Act, and specific HDB rules where applicable. It serves as a vital tool for preventing future disputes and providing clarity on co-owners' rights and obligations.
Suggested Sections

1. Parties: Details of all co-owners including full names, identification numbers, and addresses

2. Background: Context of the agreement, property details, and purpose of co-ownership arrangement

3. Definitions: Key terms used throughout the agreement

4. Property Details: Full legal description of the property and ownership shares

5. Ownership Structure: Specification of joint tenancy or tenancy in common and respective shares

6. Financial Obligations: Cost sharing arrangements for mortgage, maintenance, taxes, and utilities

7. Management and Decision Making: Procedures for property-related decisions and management

8. Dispute Resolution: Process for resolving disagreements between co-owners

9. Termination: Conditions and procedures for ending the co-ownership

Optional Sections

1. Usage Rights: Specific arrangements for property usage if not equally shared

2. Rental Income: Distribution of rental income if property is leased

3. Property Manager: Appointment and duties of property manager

4. Death/Incapacity Provisions: Procedures in case of death or incapacity of a co-owner

Suggested Schedules

1. Property Title Documents: Copies of property ownership documents and certificates

2. Financial Schedule: Detailed breakdown of ownership shares and financial contributions

3. Property Management Rules: Specific rules for property management and maintenance

4. Insurance Requirements: Details of required insurance coverage

5. Maintenance Schedule: Regular maintenance requirements and responsibilities

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

































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Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, obligations, interest rates and property matters in Singapore

Land Titles Act (Cap. 157): Legislation regulating land ownership, registration, title and interest in property

Conveyancing and Law of Property Act (Cap. 61): Governs property transactions, co-ownership rights, joint tenancy and tenancy in common arrangements

Planning Act (Cap. 232): Regulates zoning, land use restrictions and property development regulations

Residential Property Act: Contains restrictions and regulations regarding foreign ownership of residential property in Singapore

Housing and Development Act: Governs public housing (HDB) properties, including special rules and restrictions for ownership

Stamp Duties Act: Covers tax implications for property ownership, including Additional Buyer's Stamp Duty (ABSD) considerations

Property Tax Act: Regulates annual property tax obligations and tax liability sharing between co-owners

Ownership Structure Provisions: Agreement provisions covering choice between joint tenancy vs tenancy in common, including rights and obligations

Property Management Provisions: Agreement provisions covering maintenance responsibilities, property usage rights, and decision-making processes

Financial Provisions: Agreement provisions covering cost and expense sharing between co-owners

Exit Mechanisms: Agreement provisions covering sale or transfer restrictions, dispute resolution, and death/incapacity scenarios

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

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