The Conditional Deed of Sale is a crucial legal instrument in Hong Kong property transactions where the completion of the sale is subject to specific conditions being fulfilled. This document is commonly used in situations where certain prerequisites must be met before the property transfer can be finalized, such as obtaining planning permission, securing financing, or completing due diligence. The deed must comply with Hong Kong's Conveyancing and Property Ordinance and related regulations, including specific requirements for deed execution and registration. It typically includes detailed provisions about the property, conditions precedent, timelines for fulfillment, consequences of non-fulfillment, and completion procedures. This type of deed offers protection to both parties by clearly defining their rights and obligations while establishing the framework for the conditional property transfer.
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1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses
2. Background: Context of the transaction, including brief property description and reason for conditional sale
3. Definitions: Definitions of key terms used throughout the deed, including 'Completion Date', 'Conditions', 'Property', 'Purchase Price'
4. Sale and Purchase Agreement: Core agreement to sell and purchase the property subject to conditions
5. Purchase Price: Details of the purchase price, payment schedule, and deposit arrangements
6. Conditions: Specific conditions that must be fulfilled for the sale to complete, including timeframes
7. Completion: Process and requirements for completion once conditions are fulfilled
8. Title and Property Matters: Vendor's warranties regarding title and property condition
9. Default and Termination: Consequences of default by either party and termination provisions
10. Representations and Warranties: Standard representations and warranties from both parties
11. Execution Requirements: Formal requirements for deed execution under Hong Kong law
1. Mortgages and Encumbrances: Required if property has existing mortgages or charges to be discharged
2. Third Party Consents: Include if completion is conditional on third party approvals
3. Planning Permission: Required if sale is conditional on obtaining specific planning permissions
4. Environmental Matters: Include if environmental investigations or remediation are conditions
5. Tenant Provisions: Required if property is sold subject to existing tenancies
6. Development Conditions: Include if sale is conditional on specific development approvals or requirements
7. Stamp Duty Special Provisions: Required if special stamp duty arrangements apply
1. Property Description: Detailed legal description of the property including lot number, address, and registered particulars
2. Purchase Price Details: Breakdown of purchase price, payment schedule, and any adjustments
3. Conditions Precedent: Detailed list of all conditions and requirements for their fulfillment
4. Completion Requirements: Checklist of documents and requirements for completion
5. Existing Tenancies: Details of any existing tenancies affecting the property
6. Property Inventory: List of fixtures, fittings, and contents included in the sale
7. Outstanding Orders: List of any outstanding orders or notices affecting the property
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