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Unit Sale Agreement for Singapore

Unit Sale Agreement Template for Singapore

A Unit Sale Agreement under Singapore law is a legally binding contract that documents the sale and purchase of a specific property unit. It outlines the terms and conditions of the sale, including purchase price, payment terms, completion date, and obligations of both parties. The agreement incorporates requirements under Singapore's property laws, including the Sale of Goods Act and relevant property legislation, and typically includes provisions for stamp duty obligations and foreign ownership restrictions where applicable.

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What is a Unit Sale Agreement?

The Unit Sale Agreement is a fundamental document in Singapore property transactions, used when transferring ownership of residential or commercial units. This agreement is essential for both new development sales and resale transactions, requiring compliance with Singapore's strict property regulations and stamp duty requirements. The document includes detailed property specifications, payment terms, completion procedures, and warranties. A Unit Sale Agreement must account for various Singapore-specific requirements, including potential restrictions on foreign ownership, strata title provisions, and mandatory cooling periods for residential properties.

What sections should be included in a Unit Sale Agreement?

1. Parties: Identification and details of the seller and purchaser

2. Background: Context of the sale and property details

3. Definitions: Key terms used throughout the agreement

4. Sale and Purchase: Core terms of the transaction including price and payment terms

5. Property Description: Detailed description of the unit being sold

6. Completion: Terms and process for completing the sale

7. Representations and Warranties: Seller's statements about the property condition and title

8. Default and Termination: Consequences of breach and termination rights

What sections are optional to include in a Unit Sale Agreement?

1. Condition Precedent: Required when sale is subject to specific conditions being met, such as regulatory approval or financing conditions

2. Strata Title Provisions: Specific terms relating to strata-titled properties, used when unit is part of strata development

3. Foreign Ownership Provisions: Additional requirements for foreign buyers, applicable when purchaser is not a Singapore citizen/PR

What schedules should be included in a Unit Sale Agreement?

1. Property Details Schedule: Detailed specifications of the unit including floor plan and area

2. Payment Schedule: Breakdown of payment installments and timeline

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

4. Defects List: Known defects or required repairs if applicable

5. Strata Information: Share value and maintenance fee details for strata properties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions




















Clauses




















Industries

Sale of Goods Act (SOGA): Primary legislation governing the sale of goods and transfer of property, defining rights and obligations of buyers and sellers, and covering conditions and warranties

Housing Developers (Control and Licensing) Act: Regulates housing developers and protects buyers, particularly relevant for residential property transactions

Building Maintenance and Strata Management Act: Covers management of common property, defines share values and contributions for strata-titled properties

Residential Property Act: Governs restrictions on foreign ownership and approval requirements for foreign purchasers of residential property

Planning Act: Regulates zoning and land use restrictions, along with property development guidelines

Stamp Duties Act: Covers various property transaction duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Conveyancing and Law of Property Act: Sets out legal requirements for property transfer and defines rights and obligations in property transactions

Environmental Public Health Act: Establishes environmental compliance requirements and waste management regulations 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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