Release Of Real Estate Mortgage Generator for Singapore

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Key Requirements PROMPT example:

Release Of Real Estate Mortgage

"I need a Release of Real Estate Mortgage document for a commercial property in Singapore's Central Business District, where the mortgage has been fully paid off by a foreign company, and we need to ensure compliance with foreign ownership regulations."

Document background
The Release of Real Estate Mortgage is a crucial document in Singapore's property financing landscape, used when a borrower has fully satisfied their mortgage obligations. This document is essential for clearing property titles and enabling future transactions. It must conform to Singapore's strict legal requirements, including those under the Land Titles Act and Conveyancing and Law of Property Act. The release document includes specific details about the original mortgage, property description, and formal declarations of discharge, requiring proper execution and registration with relevant authorities.
Suggested Sections

1. Parties: Identification of mortgagor and mortgagee with full legal names and addresses

2. Background: Details of original mortgage, including date, amount, and property description

3. Definitions: Key terms used in the document

4. Release Statement: Formal declaration of mortgage discharge and release of security interest

5. Property Description: Legal description of the mortgaged property

6. Execution Block: Signature blocks for all parties and witnesses

Optional Sections

1. HDB Compliance Statement: Required when property is HDB flat - includes specific compliance statements and undertakings required for public housing

2. Foreign Ownership Declaration: Statement regarding foreign ownership compliance under the Residential Property Act - required when property involves foreign owners

3. Partial Release Provisions: Terms and conditions for partial release of mortgage - included when only part of the security is being released

Suggested Schedules

1. Schedule 1 - Original Mortgage Details: Copy or extract of original mortgage document including registration details

2. Schedule 2 - Property Title Documents: Certified copies of relevant title documents and property details

3. Schedule 3 - Payment Confirmation: Evidence of full payment of mortgage and settlement of all secured obligations

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

Industries

Land Titles Act (Chapter 157): Primary legislation governing registration and transfer of land titles, including provisions for mortgage discharge. Contains specific requirements for documentation and registration of property transactions.

Conveyancing and Law of Property Act (Chapter 61): Regulates property transactions and real estate matters, including provisions about mortgages and their enforcement. Sets out legal requirements for releasing security interests in property.

Housing and Development Act (Chapter 129): Specific legislation for HDB (public housing) properties, including special requirements for mortgage discharge of HDB properties and restrictions on transactions involving public housing.

Registration of Deeds Act (Chapter 269): Outlines requirements for registration of mortgage discharge documents and formal requirements for legal instruments affecting land.

Stamp Duties Act (Chapter 312): Governs applicable stamp duties for discharge documents and timing requirements for stamp duty payment in property transactions.

Residential Property Act (Chapter 274): Legislation specific to residential properties, including restrictions on foreign ownership and related mortgages.

Teams

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