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Shared Ownership Contract
"Need a Shared Ownership Contract for a three-way property purchase in Singapore between family members, with unequal ownership shares (50%, 30%, 20%) and specific provisions for future buy-out options by March 2025."
1. Parties: Identification and details of all parties entering into the shared ownership agreement
2. Background: Context and circumstances leading to the shared ownership arrangement
3. Definitions: Key terms and their meanings as used in the agreement
4. Property Details: Full description and particulars of the property under shared ownership
5. Ownership Structure: Specification of ownership shares and type of ownership (joint tenancy/tenancy in common)
6. Financial Obligations: Division of costs, maintenance, and other financial responsibilities
7. Management Rights: Decision-making processes and property management responsibilities
1. Mortgage Arrangements: Details of any mortgage or financing arrangements (include when the property is mortgaged)
2. Rental Provisions: Terms for renting out the property to third parties (include if rental is contemplated)
3. Buy-out Provisions: Process for one party buying out another's share (include when parties want exit options)
4. Death Provisions: Arrangements in case of death of a co-owner (especially important for tenancy in common arrangements)
1. Property Title Documents: Copies of relevant title documents and certificates
2. Financial Schedule: Detailed breakdown of financial contributions and obligations
3. Maintenance Schedule: Schedule of maintenance responsibilities and cost sharing
4. Property Valuation: Professional valuation report of the property
5. Insurance Documentation: Details of property insurance arrangements
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