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Estate Contract
"I need an Estate Contract drafted for the sale of a residential property in Hong Kong Island, with completion set for March 15, 2025, and including provisions for an existing tenant who will remain in the property after the sale."
1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed description of the property including lot number, address, and registered particulars
5. Purchase Price: The agreed purchase price and payment terms including deposits
6. Completion: Completion date, time, and place, and mechanics of completion
7. Title: Vendor's proof of title requirements and purchaser's right to raise requisitions
8. Vendor's Representations and Warranties: Standard warranties about property ownership, encumbrances, and condition
9. Purchaser's Representations and Warranties: Confirmations regarding purchase capacity and funding
10. Risk and Insurance: Property risk allocation before completion and insurance requirements
11. Default Provisions: Consequences of default by either party
12. Notices: Method and addresses for serving notices
13. Governing Law: Confirmation of Hong Kong law as governing law
14. Execution: Execution blocks for parties to sign
1. Conditions Precedent: Used when completion is subject to specific conditions being satisfied
2. Existing Tenancies: Required when the property is sold subject to existing tenancies
3. Planning and Development: Included when there are ongoing or planned development issues
4. Property Management: Required for properties in multi-unit developments
5. Mortgage Details: Included when the property is being sold subject to an existing mortgage
6. Special Conditions: For any unique requirements or circumstances specific to the transaction
7. Tax Provisions: Detailed tax arrangements when complex stamp duty or tax issues are involved
8. Agent Provisions: Required when property agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property description, including boundary plans and floor plans
2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment installments and timing
3. Schedule 3 - Completion Requirements: List of documents required for completion
4. Schedule 4 - Fixtures and Fittings: Inventory of items included/excluded from the sale
5. Appendix A - Property Plans: Official plans and drawings of the property
6. Appendix B - Title Documents: Copies of relevant title documents
7. Appendix C - Existing Tenancy Agreements: Copies of any existing tenancy agreements (if applicable)
8. Appendix D - Property Photographs: Recent photographs of the property's condition
Authors
Real Estate
Legal Services
Banking and Finance
Property Development
Property Management
Construction
Professional Services
Property Investment
Legal
Real Estate
Property Management
Compliance
Investment
Operations
Risk Management
Acquisitions
Asset Management
Portfolio Management
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Conveyancing Manager
Property Developer
Investment Manager
Compliance Officer
Real Estate Investment Manager
Property Transaction Manager
Legal Director
Real Estate Portfolio Manager
Title Officer
Property Acquisition Manager
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