The Deed of Contract to Sell is a crucial legal instrument in Singapore's property and asset transfer framework. It is typically used when parties wish to create a binding commitment for sale before the actual transfer of title. This document includes essential elements such as property description, purchase price, payment terms, warranties, and completion conditions. The deed must be properly executed and registered under Singapore law to be legally effective. It provides both parties with legal protection and clearly defines their rights and obligations throughout the transaction process.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the sale and brief description of the property/asset
3. Definitions: Key terms used throughout the deed
4. Subject Matter of Sale: Detailed description of property/asset being sold
5. Purchase Price: Amount, payment terms, and method of payment
6. Completion: Timeline and conditions for completion of sale
7. Seller's Warranties: Representations and warranties regarding the property/asset
8. Execution: Signing requirements and attestation
1. Conditions Precedent: Specific conditions that must be met before completion. Used when there are preliminary requirements before sale completion
2. Due Diligence: Buyer's right to investigate the property/asset. Used for complex transactions or high-value assets
3. Tax Provisions: Allocation of tax responsibilities. Used when there are significant tax implications
4. Force Majeure: Provisions for unforeseen circumstances. Used when extended completion timeframe is anticipated
1. Property Description Schedule: Detailed technical description of the property/asset
2. Payment Schedule: Breakdown of payment installments and timing
3. Title Documents: Copies of relevant ownership documents
4. Due Diligence Reports: Technical or legal reports on the property/asset
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