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Joint Purchase Agreement For Property
"Need a Joint Purchase Agreement For Property to buy a residential condo in Singapore with my sister, where I will own 60% and she will own 40%, with completion planned for March 2025, and we need specific provisions for property management and potential future sale."
1. Parties: Identification and details of all joint purchasers
2. Background: Context of the purchase and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Property Details: Full description of the property being purchased
5. Purchase Price and Payment Terms: Price and payment structure including contribution ratios
6. Ownership Structure: Joint tenancy or tenancy-in-common specifications
7. Rights and Obligations: Parties' responsibilities regarding the property
8. Default Provisions: Consequences of breach or default
9. Governing Law: Confirmation of Singapore law application
1. Mortgage Arrangements: Details of joint financing arrangements and obligations when property is mortgaged
2. Property Management: Agreement on maintenance, management and cost sharing for properties requiring joint management
3. Exit Mechanisms: Procedures for selling interest or buying out co-owners when specific exit provisions are needed
4. Foreign Ownership Provisions: Additional requirements and compliance measures for cases involving non-Singaporean buyers
1. Property Details Schedule: Detailed property specifications and floor plans
2. Payment Schedule: Detailed breakdown of payment obligations and contribution ratios
3. Ownership Proportion Schedule: Specific share percentages for tenancy-in-common arrangements
4. Property Title Documents: Copies of relevant title documents and certificates
5. Maintenance Schedule: Agreed maintenance and repair responsibilities with cost allocation
Authors
Property
Joint Purchasers
Purchase Price
Completion Date
Deposit
Effective Date
Encumbrances
Option to Purchase
Share Proportion
Common Areas
Joint Tenancy
Tenancy-in-Common
Maintenance Charges
Mortgage
Mortgagee
Property Tax
Stamp Duty
Title Documents
Transfer Documents
Vacant Possession
Working Day
Default Event
Force Majeure
Governing Law
Permitted Use
Property Manager
Sale Proceeds
Singapore Dollar
SGD
Strata Title
Valuation Report
Legal Costs
Purchase Costs
Regulatory Approvals
Security Interest
Purchase Terms
Payment Obligations
Ownership Structure
Property Transfer
Joint Ownership Rights
Maintenance and Repair
Property Management
Financial Contributions
Mortgage Obligations
Default and Remedies
Sale or Transfer Rights
Decision Making
Property Usage
Insurance
Death or Incapacity
Dispute Resolution
Notices
Force Majeure
Severability
Assignment
Entire Agreement
Amendments
Governing Law
Jurisdiction
Tax Obligations
Representations and Warranties
Due Diligence
Survival
Third Party Rights
Costs and Expenses
Termination
Buy-out Rights
First Right of Refusal
Further Assurance
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