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Deed Of Release Property

Deed Of Release Property Template for Hong Kong

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Key Requirements PROMPT example:

Deed Of Release Property

"I need a Deed of Release Property for my company to release our security interest in a commercial property located in Tsim Sha Tsui, Hong Kong, following full repayment of a loan by the borrower, with completion scheduled for March 15, 2025."

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Document background
The Deed of Release Property is a crucial document in Hong Kong's property law framework, used when one party wishes to formally relinquish their rights, interests, or claims in relation to a property. This document type is commonly used in scenarios such as releasing security interests, settling property disputes, or terminating easements or other property rights. The deed must comply with Hong Kong's legal requirements for property transactions and meet the formal requirements of the Conveyancing and Property Ordinance (Cap. 219). It typically includes detailed property descriptions, clear release language, and proper execution formalities. The document is particularly important in Hong Kong's dynamic real estate market, where property interests often need to be clearly released to facilitate new transactions or resolve existing obligations.
Suggested Sections

1. Parties: Identifies all parties to the deed, including the Releasor (party releasing their interest) and Releasee (party being released), with their full legal names and addresses

2. Background: Recitals explaining the context of the release, including details of the property interest being released and any relevant prior agreements or circumstances

3. Definitions: Definitions of key terms used throughout the deed, including 'Property', 'Release Date', and any other relevant defined terms

4. Release: The operative words of release, clearly stating what rights, interests, or claims are being released

5. Consideration: Details of any consideration being paid for the release, or statement that the deed is executed under seal

6. Representations and Warranties: Statements by the Releasor regarding their authority to release the interest and ownership of what is being released

7. Further Assurance: Covenant to execute any further documents and perform actions necessary to perfect the release

8. Execution: Formal execution blocks for all parties, including witness requirements

Optional Sections

1. Surviving Provisions: Used when certain rights or obligations should survive the release

2. Confidentiality: Include when parties wish to keep the terms of the release confidential

3. Costs: Include when there is a specific agreement about who bears the costs of preparing and executing the deed

4. Notices: Include when ongoing obligations exist requiring formal communications between parties

5. Governing Law and Jurisdiction: While Hong Kong law is applicable, this section may be included for clarity and to specify courts' jurisdiction

6. Third Party Rights: Include when rights are being created or preserved for third parties under the Contracts (Rights of Third Parties) Ordinance

Suggested Schedules

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

2. Title Documents: List of relevant title documents and registered instruments affecting the property

3. Rights Being Released: Detailed description of specific rights, interests, or claims being released if too lengthy for main body

4. Powers of Attorney: Copies of any relevant powers of attorney if parties are acting through attorneys

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

Legal Services

Banking & Finance

Property Development

Property Management

Construction

Corporate Services

Investment Management

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Corporate Secretarial

Risk Management

Operations

Conveyancing

Land Registration

Relevant Roles

Property Lawyer

Real Estate Manager

Legal Counsel

Company Secretary

Property Officer

Conveyancing Manager

Compliance Officer

Real Estate Director

Property Administrator

Title Officer

Land Registration Officer

Property Transactions Manager

Legal Director

Real Estate Partner

Industries
Conveyancing and Property Ordinance (Cap. 219): Primary legislation governing property transactions in Hong Kong, including requirements for deeds, legal estates, and interests in land
Land Registration Ordinance (Cap. 128): Regulates the registration of documents affecting land and property interests in Hong Kong's Land Registry
Stamp Duty Ordinance (Cap. 117): Governs stamp duty requirements for property-related documents and transactions in Hong Kong
Age of Majority (Related Provisions) Ordinance (Cap. 410): Determines the legal capacity of individuals to execute deeds and enter into binding agreements
Mental Health Ordinance (Cap. 136): Relevant for determining capacity of parties to execute deeds and protection of interests of mentally incapacitated persons
Powers of Attorney Ordinance (Cap. 31): Important when the deed is executed by an attorney on behalf of a principal
Electronic Transactions Ordinance (Cap. 553): Relevant if any aspects of the deed execution or registration process involve electronic means
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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