Tenancy In Common Agreement Template for Singapore

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Key Requirements PROMPT example:

Tenancy In Common Agreement

"Need a Tenancy In Common Agreement for a three-party purchase of a commercial property in Singapore's CBD area, with unequal ownership shares of 50%, 30%, and 20%, to be effective from March 2025."

Document background
The Tenancy In Common Agreement is essential when two or more parties seek to co-own property in Singapore while maintaining distinct, separate ownership shares. This document becomes particularly important as it clearly defines each owner's rights, responsibilities, and ownership percentage, helping prevent future disputes. The agreement must comply with Singapore's property laws, including the Land Titles Act and Conveyancing and Law of Property Act. It typically includes provisions for property management, expense sharing, decision-making processes, and eventual property disposal or transfer rights.
Suggested Sections

1. Parties: Identifies and defines all co-owners entering into the agreement

2. Background: Explains the context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Property Details: Describes the property and ownership shares

5. Rights and Obligations: Details the rights and responsibilities of each co-owner

6. Financial Obligations: Outlines cost sharing and expense management

7. Decision Making: Establishes processes for joint decisions

8. Dispute Resolution: Sets out procedures for resolving disagreements

9. Term and Termination: Defines duration and termination conditions

Optional Sections

1. Property Management: Details management structure if property is professionally managed - use for larger properties or multiple units

2. Rental Income: Provisions for handling rental income - use if property is or may be rented out

3. Insurance: Insurance requirements and cost sharing - use when specific insurance arrangements are needed

4. Death or Incapacity: Succession planning provisions - use when specifically requested by parties

Suggested Schedules

1. Property Description Schedule: Detailed property description including title details

2. Ownership Schedule: Detailed breakdown of ownership shares

3. Cost Allocation Schedule: Breakdown of cost sharing arrangements

4. Property Rules: Specific rules for property use and maintenance

5. Property Title Documents: Copies of relevant title documents

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 the registration of land titles in Singapore, defining rights and obligations of property co-owners, and regulating the transfer and transmission of land

Conveyancing and Law of Property Act (Chapter 61): Sets out fundamental rules for property ownership and transactions, defines legal requirements for property co-ownership, and regulates property rights and interests

Civil Law Act (Chapter 43): Contains essential provisions affecting property rights and governs contractual relationships between parties

Property Tax Act (Chapter 254): Governs tax obligations of co-owners and defines framework for liability sharing in property ownership

Building Maintenance and Strata Management Act: Applicable for properties in strata developments, governing shared facilities and common property management

Co-owner Rights and Obligations: Legal framework defining the specific rights, responsibilities, and obligations of each co-owner in a tenancy in common arrangement

Ownership Shares Framework: Legal structure determining how ownership shares are allocated, documented, and managed between co-owners

Management Responsibilities Framework: Guidelines and requirements for property management, maintenance responsibilities, and decision-making processes between co-owners

Dispute Resolution Mechanisms: Legal procedures and frameworks for resolving disputes between co-owners and handling conflicts related to the property

Exit and Transfer Provisions: Legal requirements and procedures for co-owners to exit the agreement, transfer their share, or handle cases of death/insolvency

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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