Deed Of Absolute Sale Of A Portion Of Land Template for Hong Kong

The Deed of Absolute Sale of a Portion of Land is a crucial legal instrument in Hong Kong's property market, used specifically when a landowner wishes to sell part of their land holding rather than an entire lot. This document is essential for property developers, businesses expanding their premises, or individuals acquiring specific portions of larger land parcels. It must comply with Hong Kong's legal framework, particularly the Conveyancing and Property Ordinance and Land Registration Ordinance. The deed includes comprehensive details about the land portion being sold, including precise measurements, boundaries, rights of way, easements, and any restrictions on use. It's particularly important in Hong Kong's complex property market where land is at a premium and subdivisions are common. The document serves as conclusive evidence of the transfer of ownership and must be properly stamped and registered to ensure legal protection for both parties.

1. Parties: Identifies and provides full details of the Vendor and Purchaser, including their full names, addresses, and Hong Kong ID/Company Registration numbers

2. Background: Sets out the context of the sale, including the Vendor's ownership of the larger parcel of land and intention to sell a portion

3. Definitions: Defines key terms used throughout the deed, including 'Property', 'Completion Date', 'Purchase Price', and other relevant terms

4. Agreement for Sale: The operative part stating the Vendor's agreement to sell and the Purchaser's agreement to buy the specified portion of land

5. Property Description: Detailed description of the portion of land being sold, including its boundaries, measurements, and reference to surveyor's plan

6. Purchase Price: States the agreed purchase price and payment terms, including any deposits and balance payment arrangements

7. Completion: Details of the completion process, timing, and requirements for both parties

8. Vendor's Representations and Warranties: Warranties regarding title, absence of encumbrances, and other property-related assurances

9. Title and Documents: Provisions regarding proof of title and handling of title documents

10. Costs and Stamp Duty: Allocation of costs, including stamp duty, registration fees, and other expenses

11. Execution: Formal execution clause and signing requirements for a deed under Hong Kong law