Agreement For Sale And Purchase With Plan Template for Singapore

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Key Requirements PROMPT example:

Agreement For Sale And Purchase With Plan

"I need an Agreement For Sale And Purchase With Plan for a luxury condominium development in Singapore's District 10, with completion scheduled for March 2025 and including detailed specifications for smart home features and premium finishes."

Document background
The Agreement For Sale And Purchase With Plan is a crucial document in Singapore's property market, particularly for new developments and off-plan purchases. It provides a comprehensive framework for transactions where the property is yet to be completed or is under construction. The agreement incorporates detailed plans, specifications, and development schedules, ensuring both parties' interests are protected under Singapore law. It addresses key aspects such as payment terms, construction timelines, defect liability periods, and completion requirements, while complying with regulations set by authorities like the Urban Redevelopment Authority (URA) and Building and Construction Authority (BCA).
Suggested Sections

1. Parties: Identification and details of buyer and seller

2. Background: Context of the transaction and property details

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of property including boundaries and measurements

5. Purchase Price: Amount and payment terms

6. Completion: Terms and timing of completion

7. Title and Transfer: Provisions regarding transfer of title

Optional Sections

1. Conditions Precedent: Optional section for specific prerequisites that must be met before completion

2. Development Obligations: Optional section detailing developer's obligations regarding construction when property is under development

3. Defects Liability: Optional section covering terms regarding defects and repairs for new properties

Suggested Schedules

1. Property Plans: Detailed architectural and location plans

2. Payment Schedule: Breakdown of payment installments

3. Specifications: Detailed specifications of property and fittings

4. Title Documents: Copies of relevant title documents

5. Planning Permissions: Relevant planning and building approvals

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

Clauses
Industries

Sale of Goods Act (Chapter 393): Primary legislation governing the sale and purchase of goods in Singapore, defining rights and obligations of buyers and sellers

Contracts Act (Chapter 53): Fundamental law governing contract formation, validity, and enforcement in Singapore

Property Law Act (Chapter 242): Legislation governing real property transactions and property rights in Singapore

Land Titles Act (Chapter 157): Legislation governing the registration and transfer of land titles in Singapore

Planning Act (Chapter 232): Controls development and use of land and buildings in Singapore, crucial for plan-related aspects

Housing Developers Rules: Specific regulations governing residential property development and sales in Singapore

Building Control Act (Chapter 29): Regulates building construction and ensures compliance with safety and technical requirements

Conveyancing and Law of Property Act (Chapter 61): Governs the transfer of property rights and real estate transactions

Consumer Protection (Fair Trading) Act (Chapter 52A): Protects consumer interests and ensures fair trading practices in transactions

Consumer Protection (Trade Descriptions and Safety Requirements) Act: Ensures accurate product descriptions and maintains safety standards in trade

Stamp Duties Act (Chapter 312): Governs taxation aspects of property transactions including ABSD and SSD requirements

Building Construction Authority (BCA) Regulations: Technical requirements and standards for building construction and development

Urban Redevelopment Authority (URA) Guidelines: Planning guidelines and zoning requirements for property development

Singapore Land Authority (SLA) Requirements: Regulations concerning land ownership, usage, and administration in Singapore

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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