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Mortgage Lease Agreement Template for Singapore

A Mortgage Lease Agreement under Singapore law is a comprehensive legal document that combines elements of both a mortgage and a lease agreement. It governs the relationship between the property owner (mortgagor), the financial institution (mortgagee), and the tenant. The document complies with Singapore's Housing and Development Act, Conveyancing and Law of Property Act, and other relevant property legislation, incorporating specific requirements for property transactions in Singapore, including CPF usage and foreign ownership restrictions where applicable.

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What is a Mortgage Lease Agreement?

The Mortgage Lease Agreement is essential when a mortgaged property in Singapore is being leased to tenants. This document ensures compliance with Singapore's property laws while protecting the interests of the mortgagee, mortgagor, and tenant. It outlines mortgage terms, lease conditions, payment obligations, and default remedies, incorporating specific Singapore requirements such as HDB regulations, CPF usage rules, and foreign ownership restrictions where applicable. The agreement is particularly crucial in Singapore's dynamic property market where mortgaged properties are frequently leased.

What sections should be included in a Mortgage Lease Agreement?

1. Parties: Details of mortgagor, mortgagee, and tenant

2. Background: Context of the agreement including property details and existing mortgage

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the mortgaged property

5. Lease Terms: Duration, rent, payment terms

6. Mortgage Terms: Loan amount, interest rate, repayment schedule

7. Covenants: Obligations of all parties

8. Default Provisions: Consequences of default by any party

What sections are optional to include in a Mortgage Lease Agreement?

1. CPF Usage: Terms relating to CPF funds usage for property purchase

2. Foreign Ownership Provisions: Special terms for foreign owners when property owner is non-Singaporean

3. Subletting Provisions: Terms for subletting the property when permitted

What schedules should be included in a Mortgage Lease Agreement?

1. Schedule 1 - Property Details: Detailed property specifications and floor plans

2. Schedule 2 - Payment Schedule: Detailed mortgage repayment schedule

3. Schedule 3 - Inventory List: List of fixtures and fittings included

4. Appendix A - Required Insurances: Details of mandatory insurance coverage

5. Appendix B - Maintenance Requirements: Property maintenance obligations

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Mortgage Agreement

Cost

Free to use

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