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Waiver And Quitclaim Template for Hong Kong

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Key Requirements PROMPT example:

Waiver And Quitclaim

"I need a Waiver and Quitclaim document for a Hong Kong real estate transaction where ABC Properties Limited will release all claims and rights to a commercial property in Central district, effective March 15, 2025, in exchange for a settlement payment of HKD 5 million."

Document background
The Waiver And Quitclaim document is a versatile legal instrument used in Hong Kong when parties need to formally relinquish rights, settle disputes, or clear title to property. It serves multiple purposes, including resolving commercial disputes, facilitating property transfers, and settling potential claims. This document type is particularly relevant in Hong Kong's business environment, where it provides certainty and finality in commercial relationships. The document must comply with Hong Kong's common law requirements and relevant ordinances, including the Contracts Ordinance and Conveyancing and Property Ordinance. It's commonly used in situations ranging from corporate restructuring to real estate transactions, where one party needs to formally abandon their rights or potential claims against another party.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including the releasing party (releasor) and the party being released (releasee)

2. Background: Provides context for the waiver and quitclaim, including relevant history, existing relationships, and circumstances leading to the waiver

3. Definitions: Defines key terms used throughout the document, including the rights, claims, or interests being waived

4. Waiver and Release: Core section detailing the specific rights, claims, and interests being waived and released by the releasor

5. Consideration: Specifies the consideration (if any) being provided in exchange for the waiver and release

6. Representations and Warranties: Statements by the releasor confirming their authority to waive the rights and understanding of what is being waived

7. Further Assurance: Commitment to execute additional documents or take further actions if necessary to give effect to the waiver

8. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and Hong Kong courts' jurisdiction over disputes

9. Execution: Signature blocks and execution requirements for all parties

Optional Sections

1. Conditional Waiver: Include when the waiver is subject to specific conditions that must be met

2. Partial Waiver: Include when only specific rights or claims are being waived while others are retained

3. Confidentiality: Include when the parties wish to keep the existence or terms of the waiver confidential

4. Non-Revocation: Include to explicitly state that the waiver cannot be revoked once executed

5. Severability: Include to ensure remaining provisions survive if any provision is found invalid

6. Third Party Rights: Include when the waiver is intended to benefit or affect third parties

7. Survival: Include to specify which provisions survive termination of the agreement

Suggested Schedules

1. Schedule 1 - Rights and Claims: Detailed list of specific rights, claims, or interests being waived

2. Schedule 2 - Properties: Description of any real or personal property involved in the quitclaim

3. Schedule 3 - Related Agreements: List of any related agreements or documents affected by the waiver

4. Schedule 4 - Excluded Rights: List of any specific rights or claims explicitly excluded from the waiver

5. Appendix A - Supporting Documents: Copies of relevant supporting documents referenced in the waiver

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


























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Relevant Industries

Real Estate

Financial Services

Construction

Manufacturing

Professional Services

Technology

Healthcare

Energy

Mining

Insurance

Banking

Telecommunications

Transportation

Retail

Relevant Teams

Legal

Compliance

Risk Management

Real Estate

Corporate Affairs

Property Management

Operations

Commercial

Contracts Administration

Company Secretarial

Relevant Roles

Legal Counsel

Corporate Lawyer

Property Manager

Risk Manager

Compliance Officer

Real Estate Director

Claims Manager

Contract Administrator

Company Secretary

Chief Legal Officer

Property Development Manager

Asset Manager

Transaction Manager

Legal Operations Manager

Industries






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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