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Real Estate Buyout Agreement

Real Estate Buyout Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Buyout Agreement

"Need a Real Estate Buyout Agreement for the purchase of a commercial property in Singapore's Central Business District, with completion scheduled for March 2025 and including specific provisions for existing tenant rights and renovation allowances."

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Document background
The Real Estate Buyout Agreement is essential for property transactions in Singapore's regulated real estate market. It's used when one party wishes to purchase property from another, whether for residential, commercial, or investment purposes. The agreement must comply with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and property registration procedures. It typically includes comprehensive details about the property, payment terms, conditions precedent, and completion requirements. This document is particularly important given Singapore's unique property laws and high-value real estate market.
Suggested Sections

1. Parties: Identification and details of buyer and seller

2. Background: Context of the transaction and property details

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property being sold

5. Purchase Price: Amount and payment terms

6. Completion: Timeline and conditions for completion

7. Representations and Warranties: Statements of fact by both parties

8. Termination: Conditions for contract termination

Optional Sections

1. Tenant Rights: Required if property is currently tenanted - includes provisions for existing tenant agreements and rights

2. Renovation Works: Details of ongoing or planned renovations - includes completion timelines and responsibilities

3. Foreign Ownership Approval: Requirements and conditions for foreign buyer approval under Singapore law

Suggested Schedules

1. Property Floor Plan: Detailed floor plan and measurements of the property

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

3. Inventory List: Comprehensive list of fixtures and fittings included in the sale

4. Condition Report: Detailed report on the current condition of the property

5. Due Diligence Documents: Property searches, regulatory approvals, and other relevant documentation

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

alex.den.21@genieai.co
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Industries

Residential Property Act (Chapter 274): Primary legislation that regulates foreign ownership of residential property and determines eligibility for property purchase in Singapore

Sale of Commercial Properties Act: Legislation governing commercial property transactions and commercial real estate dealings in Singapore

Housing and Development Act (Chapter 129): Regulates public housing transactions and HDB properties, essential for any public housing buyout agreements

Conveyancing and Law of Property Act (Chapter 61): Sets out legal requirements for property dealings and governs property transactions and transfers in Singapore

Land Titles Act (Chapter 157): Covers land registration system and deals with property titles, encumbrances, and land ownership records

Stamp Duties Act: Governs various property-related duties including Additional Buyer's Stamp Duty (ABSD), Seller's Stamp Duty (SSD), and standard stamp duty requirements

Planning Act: Regulates zoning requirements and usage restrictions for properties in Singapore

Building Control Act: Sets building standards and regulations for property modifications and structural requirements

Environmental Public Health Act: Addresses environmental considerations and health and safety requirements for properties

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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