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Land Buying Agreement

Land Buying Agreement Template for Singapore

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Key Requirements PROMPT example:

Land Buying Agreement

"Need a Land Buying Agreement for a commercial property purchase in Singapore's Central Business District, with a foreign buyer and multiple payment installments, completion date set for March 2025."

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The Land Buying Agreement is essential for any land transaction in Singapore, serving as the primary contract between buyer and seller. It ensures compliance with Singapore's strict property laws and regulations, including the Land Titles Act and Residential Property Act. This document is crucial for establishing the terms of sale, protecting both parties' interests, and facilitating smooth property transfer. It must address specific local requirements such as stamp duties, foreign ownership restrictions if applicable, and proper land title registration.
Suggested Sections

1. Parties: Details of the buyer and seller, including full legal names and addresses

2. Background: Context of the transaction and property details

3. Definitions: Key terms used tHRoughout the agreement

4. Property Description: Detailed description of the property including lot number, address, and bouNDAries

5. Purchase Price: Agreed purchase price and payment terms

6. Completion Date: Timeline for completion of the sale

7. Title and Transfer: Provisions regarding clean title and transfer process

Optional Sections

1. Foreign Ownership Approval: Required when buyer is a foreign person or entity requiring approval from Land Dealings Unit

2. HDB Compliance: Special conditions and requirements for HDB properties including eligibility criteria

3. Development Conditions: Specific development or renovation requirements and restrictions for the land

4. Tenant Provisions: Existing tenancy arrangements and obligations

Suggested Schedules

1. Property Plans: Detailed plans showing property bouNDAries and layout

2. Title Search Results: Recent title search showing encumbrances and ownership

3. Payment Schedule: Detailed breakdown of payment terms and timeline

4. Property Inspection Report: Results of property inspection if conducted

5. Existing Tenancy Agreements: Copies of current tenancy agreements if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Land Titles Act (Chapter 157): Primary legislation governing the registration and transfer of land titles in Singapore. Establishes the Torrens system of land registration and deals with caveats and other encumbrances.

Residential Property Act (Chapter 274): Regulates foreign ownership of residential property in Singapore, sets conditions for foreign buyers, and requires approval from Land Dealings (Approval) Unit.

Housing and Development Act (Chapter 129): Governs HDB property transactions, including ownership restrictions, eligibility criteria, and resale procedures.

Planning Act (Chapter 232): Controls land use zoning requirements, development restrictions, and ensures compliance with the Master Plan.

Stamp Duties Act (Chapter 312): Regulates various property-related duties including Additional Buyer's Stamp Duty (ABSD), Seller's Stamp Duty (SSD), and Buyer's Stamp Duty (BSD).

Environmental Public Health Act: Sets environmental requirements and property maintenance obligations for landowners.

Building Control Act: Establishes building safety requirements and construction regulations for properties.

Real Estate Developers (Control and Licensing) Act: Regulates dealings with uncompleted properties and establishes developer obligations.

Conveyancing and Law of Property Act: Outlines legal requirements for property transfer and establishes contractual obligations in property transactions.

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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