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Real Estate Mortgage Agreement Generator for Singapore

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Key Requirements PROMPT example:

Real Estate Mortgage Agreement

"Need a Real Estate Mortgage Agreement for a commercial property in Singapore CBD, with a loan value of SGD 5 million and specific provisions for early repayment options, to be completed by March 2025."

Document background
The Real Estate Mortgage Agreement is a crucial document in Singapore's property financing landscape, used when a property owner seeks to secure a loan using their real estate as collateral. This agreement must comply with Singapore's robust regulatory framework, including the Land Titles Act, Banking Act, and MAS guidelines. It details the loan amount, interest rates, repayment terms, and the mortgagee's rights upon default. The document is particularly important given Singapore's active property market and strict lending regulations, including Total Debt Servicing Ratio (TDSR) and Loan-to-Value (LTV) requirements.
Suggested Sections

1. Parties: Details of mortgagor and mortgagee

2. Background: Context of the mortgage agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of mortgaged property

5. Loan Details: Amount, interest rate, repayment terms

6. Security Creation: Legal charge creation over the property

7. Mortgagor's Covenants: Obligations of the property owner

8. Events of Default: Circumstances constituting default

9. Mortgagee's Rights and Remedies: Rights upon default including power of sale

Optional Sections

1. Insurance Requirements: Optional section detailing property insurance obligations when specific insurance requirements are needed

2. Assignment Provisions: Optional section covering rights to assign the mortgage when assignment rights are to be included

3. Further Advance Provisions: Optional section specifying terms for additional borrowing when further advances may be contemplated

4. HDB Specific Provisions: Optional section containing special terms for HDB properties when the mortgaged property is HDB

Suggested Schedules

1. Property Schedule: Detailed property description and title particulars

2. Payment Schedule: Repayment schedule and installment details

3. Insurance Schedule: Insurance requirements and specifications

4. Special Conditions: Any special terms or conditions applicable

5. Property Plans: Floor plans or property drawings if relevant

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

Land Titles Act (Chapter 157): Primary legislation governing registered land in Singapore, including requirements for mortgage registration, provisions regarding priorities of mortgages, and prescribed forms and procedures for mortgage documentation

Conveyancing and Law of Property Act (Chapter 61): Establishes legal framework for property transactions, including mortgagee's powers and remedies, and requirements for valid mortgages

Housing and Development Act (Chapter 129): Governs public housing (HDB) properties, including special restrictions, requirements, and HDB's consent requirements for mortgages

Residential Property Act (Chapter 274): Covers restrictions on foreign ownership and specific requirements for foreign buyers/mortgagors in Singapore

Moneylenders Act (Chapter 188): Regulates moneylenders, including interest rate restrictions and licensing requirements for mortgage providers

Banking Act (Chapter 19): Governs banking institutions and their regulations regarding property loans and mortgages

MAS Guidelines: Monetary Authority of Singapore guidelines covering Total Debt Servicing Ratio (TDSR) framework, Loan-to-Value (LTV) limits, and mortgage servicing requirements

Stamp Duties Act (Chapter 312): Regulates stamp duty obligations, including Additional Buyer's Stamp Duty (ABSD) and Seller's Stamp Duty (SSD) for property transactions

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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