A Deed of Partial Release is essential in Singapore's property and financing landscape when parties need to release specific portions of secured property while maintaining security over the remainder. This typically occurs during property development phases, refinancing arrangements, or partial property sales. The deed must comply with Singapore's strict formal requirements, including proper execution, witnessing, and registration with relevant authorities. The document specifically details the portion being released, confirms the continuing security over remaining assets, and includes necessary property descriptions and plans.
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1. Parties: Details of the Releasor and Releasee
2. Background: Reference to original security/charge and reason for partial release
3. Definitions: Key terms used in the deed
4. Release Provisions: Specific terms of the partial release, including property description
5. Continuing Security: Confirmation that security continues over remaining property/obligations
6. Execution: Formal execution block with witness requirements
1. Representations and Warranties: Additional confirmations from parties, used in complex transactions or where specifically requested
2. Costs and Expenses: Allocation of costs related to the partial release, used when costs allocation needs to be explicitly stated
3. Governing Law: Explicit statement of governing law, used when international elements are involved
1. Property Description Schedule: Detailed description of property being released
2. Original Security Document Schedule: Copy or details of the original security document
3. Plan Schedule: Property plans where relevant for partial release of specific portions of land
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