Closed Deed Of Sale Template for Hong Kong

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Key Requirements PROMPT example:

Closed Deed Of Sale

"I need a Closed Deed of Sale for a residential apartment in Hong Kong, with completion scheduled for March 15, 2025, including standard provisions for vacant possession and a three-payment structure for the purchase price."

Document background
A Closed Deed of Sale is the definitive legal instrument used in Hong Kong property transactions to transfer real estate ownership from a vendor to a purchaser. This document is typically used after preliminary agreements have been signed and all conditions have been met or waived. It represents the formal completion of the property sale process and must comply with Hong Kong's strict legal requirements for property conveyancing. The deed includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and completion arrangements. It must be properly executed as a deed, witnessed, and registered with the Hong Kong Land Registry. The document is crucial for both residential and commercial property transactions and requires careful preparation to ensure all legal requirements are met and the interests of all parties are protected.
Suggested Sections

1. Parties: Full legal names and addresses of the Vendor and Purchaser

2. Background: Context of the sale and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the deed

4. Agreement for Sale: Core agreement clause stating the vendor's agreement to sell and the purchaser's agreement to buy

5. Purchase Price: Specification of the purchase price and payment terms

6. Completion: Details of completion date, time, and place, and completion obligations

7. Title and Property: Warranties regarding title and property condition

8. Vendor's Obligations: Pre-completion and completion obligations of the vendor

9. Purchaser's Obligations: Pre-completion and completion obligations of the purchaser

10. Risk and Insurance: Provisions regarding risk transfer and insurance requirements

11. Default: Consequences of default by either party

12. Notices: Process for serving notices under the deed

13. Governing Law: Confirmation of Hong Kong law as governing law

14. Execution: Formal execution blocks for all parties

Optional Sections

1. Conditions Precedent: Used when completion is subject to specific conditions being met

2. Existing Tenancies: Required when the property is sold subject to existing tenancies

3. Mortgage Discharge: Included when the property is being sold subject to an existing mortgage

4. Provisional Period: Used when there's a period between preliminary agreement and formal deed

5. Property Management: Required for properties in managed buildings or estates

6. Fixtures and Fittings: Detailed when specific items are included/excluded from sale

7. Tax Indemnity: Used when specific tax arrangements or indemnities are required

8. Agency: Required when real estate agents are involved in the transaction

Suggested Schedules

1. Schedule 1 - Property Description: Detailed legal description of the property including lot number, address, and registered details

2. Schedule 2 - Purchase Price Breakdown: Detailed breakdown of purchase price, deposits, and payment schedule

3. Schedule 3 - Completion Requirements: List of documents to be delivered on completion

4. Schedule 4 - Fixtures and Fittings: Inventory of items included in the sale

5. Schedule 5 - Existing Encumbrances: Details of any existing encumbrances affecting the property

6. Appendix A - Property Plans: Floor plans and location maps of the property

7. Appendix B - Title Documents: Copies of relevant title documents and land search

8. Appendix C - Certificates: Relevant certificates including occupation permit and deed of mutual covenant

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 | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Investment

Commercial Property

Residential Property

Corporate Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Secretarial

Operations

Finance

Investment

Risk Management

Administration

Relevant Roles

Legal Counsel

Property Lawyer

Real Estate Agent

Property Manager

Compliance Officer

Contract Manager

Company Secretary

Property Director

Investment Manager

Bank Manager

Conveyancing Lawyer

Real Estate Director

Chief Legal Officer

Property Administrator

Transaction Manager

Industries
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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