Deed Of Absolute Sale For House And Lot for Hong Kong

Deed Of Absolute Sale For House And Lot Template for Hong Kong

A Deed of Absolute Sale for House and Lot is a formal legal document used in Hong Kong to transfer absolute ownership of residential property from a seller to a buyer. This document, governed by Hong Kong law including the Conveyancing and Property Ordinance (Cap. 219), serves as conclusive evidence of the transfer of ownership rights. It contains detailed property descriptions, consideration amount, warranties, and obligations of both parties. The deed must comply with Hong Kong's strict requirements for property transactions, including proper execution, witnessing, and registration with the Land Registry.

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What is a Deed Of Absolute Sale For House And Lot?

The Deed of Absolute Sale for House and Lot is a crucial legal instrument in Hong Kong's property market, used when transferring complete and unrestricted ownership of residential property. This document is essential for property transactions in Hong Kong, where real estate dealings are subject to strict regulatory oversight and formal requirements. The deed must comply with the Conveyancing and Property Ordinance and other relevant Hong Kong legislation, requiring careful preparation to ensure enforceability. It serves as the primary document evidencing the transfer of property rights, incorporating all necessary terms, conditions, warranties, and obligations of the parties involved. The document is typically used in conjunction with property purchases after preliminary agreements have been signed and conditions precedent have been satisfied.

What sections should be included in a Deed Of Absolute Sale For House And Lot?

1. Parties: Full legal names and details of the Vendor and Purchaser, including identification numbers and registered addresses

2. Background: Context of the sale, including brief history of ownership and purpose of the transaction

3. Definitions: Definitions of key terms used throughout the deed

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

5. Consideration: Purchase price and payment terms, including deposit and completion payment details

6. Title and Ownership: Vendor's confirmation of legal title and right to sell the property

7. Warranties and Representations: Vendor's warranties regarding the property's condition, encumbrances, and legal status

8. Completion: Details of completion date, time, and place, and obligations of parties upon completion

9. Vacant Possession: Commitment to deliver vacant possession upon completion

10. Expenses and Stamp Duty: Allocation of transaction costs and stamp duty responsibilities

11. Risk and Insurance: Transfer of risk and insurance obligations

12. Notices: Process for serving notices between parties

13. Governing Law: Confirmation of Hong Kong law as governing law

14. Execution: Execution blocks for parties and witnesses

What sections are optional to include in a Deed Of Absolute Sale For House And Lot?

1. Existing Tenancies: Required if property is subject to existing tenancy agreements that will continue after sale

2. Mortgage Discharge: Required if property has existing mortgage that needs to be discharged

3. Property Management: Required for properties in managed buildings or estates, detailing management fee arrangements

4. Defects Liability: Optional section for new properties still under developer's defect liability period

5. Fixtures and Fittings: Required if specific fixtures and fittings are included or excluded from the sale

6. Car Parking Space: Required if sale includes parking space rights

7. Power of Attorney: Required if any party is acting through an attorney

8. Joint Ownership Terms: Required if property is being purchased by multiple buyers

What schedules should be included in a Deed Of Absolute Sale For House And Lot?

1. Schedule 1 - Property Details: Detailed property information including floor plans, boundaries, and measurements

2. Schedule 2 - Title Documents: List of all relevant title documents and encumbrances

3. Schedule 3 - Fixtures and Fittings: Inventory of included and excluded fixtures and fittings

4. Schedule 4 - Outstanding Rates and Management Fees: Details of any outstanding charges or fees

5. Appendix A - Property Plans: Official floor plans and location maps

6. Appendix B - Land Search: Recent land search results showing current title status

7. Appendix C - Completion Requirements: Checklist of documents required for completion

8. Appendix D - Approved Building Plans: Copies of approved building plans and modifications if any

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

Jurisdiction

Hong Kong

Publisher

Genie AI

Document Type

Sales Contract

Sector

Sales

Cost

Free to use
Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Property Management

Construction

Insurance

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Finance

Risk Management

Operations

Customer Service

Document Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Mortgage Broker

Legal Counsel

Conveyancing Officer

Property Developer

Bank Manager

Compliance Officer

Title Insurance Officer

Real Estate Investment Manager

Property Valuer

Land Registry Officer

Real Estate Transaction Coordinator

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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