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Deed Of Absolute Sale Lot

Deed Of Absolute Sale Lot Template for Hong Kong

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Key Requirements PROMPT example:

Deed Of Absolute Sale Lot

"I need a Deed of Absolute Sale Lot for a commercial property sale in Kowloon, Hong Kong, with completion set for March 15, 2025, including specific provisions for existing building code compliance and a clean title transfer."

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Document background
The Deed of Absolute Sale Lot is a crucial legal instrument in Hong Kong's property market, used when transferring complete and unrestricted ownership of a plot of land or property. This document is essential in both commercial and residential property transactions, providing definitive evidence of the transfer of title. It must comply with Hong Kong's strict legal requirements, including those set out in the Conveyancing and Property Ordinance and Land Registration Ordinance. The deed includes comprehensive details about the property, parties involved, consideration, and any encumbrances or conditions affecting the land. It requires proper execution as a deed and must be registered with the Hong Kong Land Registry to ensure legal protection of the purchaser's interests. This document is particularly important in Hong Kong's leasehold land system, where most property is held under government leases.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with their full legal names, addresses, and identification numbers

2. Background/Recitals: Sets out the ownership status of the property, intention to sell, and any relevant background information

3. Definitions and Interpretation: Defines key terms used throughout the deed and establishes interpretation rules

4. Property Details: Detailed description of the lot including lot number, location, dimensions, and registered particulars

5. Consideration: States the purchase price and payment terms

6. Transfer of Title: The operative words of transfer and assignment of the property

7. Vendor's Warranties: Warranties regarding title, encumbrances, and property condition

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

9. Title Documents: Lists the title documents to be delivered upon completion

10. Execution: Formal execution block meeting Hong Kong deed requirements

Optional Sections

1. Existing Tenancies: Required if the property is subject to existing tenancy agreements

2. Planning Restrictions: Include if there are specific planning conditions or restrictions affecting the lot

3. Government Rent and Rates: Required if there are outstanding payments or apportionment arrangements

4. Environmental Matters: Include if there are environmental issues or compliance requirements

5. Rights of Way: Required if there are easements or rights of way affecting the property

6. Development Conditions: Include if the lot is subject to specific development conditions or restrictions

Suggested Schedules

1. Property Schedule: Detailed property description including boundaries, measurements, and plans

2. Title Documents Schedule: List of all title documents and encumbrances affecting the property

3. Plans and Drawings: Certified plans, lot index plans, and any relevant drawings

4. Existing Encumbrances: Details of any existing mortgages, charges, or other encumbrances

5. Property Conditions: Current physical condition of the property and any known defects

6. Completion Requirements: Checklist of documents and requirements for completion

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Investment & Asset Management

Commercial Property

Residential Property

Industrial Property

Urban Planning & Development

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Asset Management

Development

Operations

Finance

Risk Management

Corporate Services

Relevant Roles

Real Estate Lawyer

Property Manager

Land Surveyor

Real Estate Agent

Property Developer

Conveyancing Manager

Legal Counsel

Compliance Officer

Property Investment Manager

Asset Manager

Real Estate Director

Development Manager

Transaction Manager

Title Officer

Real Estate Partner

Industries
Conveyancing and Property Ordinance (Cap. 219): Primary legislation governing property transfers in Hong Kong, including requirements for valid conveyances and legal formalities for property transactions
Land Registration Ordinance (Cap. 128): Regulates the registration of land transactions and provides the legal framework for maintaining the Land Registry system in Hong Kong
Stamp Duty Ordinance (Cap. 117): Sets out the requirements for stamp duty payment on property transactions, including rates and payment timeframes
Law Amendment and Reform (Consolidation) Ordinance (Cap. 23): Contains provisions regarding the execution of deeds and the formal requirements for their validity
Government Leases Ordinance (Cap. 40): Governs the system of government leases and conditions of grant under which virtually all land in Hong Kong is held
Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545): May be relevant if the lot is part of a larger redevelopment scheme or subject to compulsory sale provisions
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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