The Full Payment Agreement Of Property is a crucial legal document used in Hong Kong property transactions where the purchaser intends to pay the full purchase price without installment arrangements. This document is essential for both residential and commercial property transactions in Hong Kong, incorporating requirements under the Conveyancing and Property Ordinance, Stamp Duty Ordinance, and other relevant Hong Kong legislation. It's typically used when buyers have sufficient funds or mortgage arrangements in place for complete payment, as opposed to staged payment schemes. The agreement includes comprehensive details about the property, payment terms, completion requirements, warranties, and specific provisions required under Hong Kong law. It serves as the primary legal instrument for protecting both parties' interests and ensuring a smooth property transfer process.

1. Parties: Details of the vendor and purchaser, including full legal names and addresses

2. Background: Context of the transaction and brief property description

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Property Details: Comprehensive description of the property including lot number, address, and registered details

5. Purchase Price: Statement of the full purchase price and payment structure

6. Payment Terms: Detailed payment schedule, method, and timing of payments

7. Completion: Completion date, procedures, and requirements

8. Vendor's Representations and Warranties: Warranties about property title, condition, and encumbrances

9. Purchaser's Representations and Warranties: Confirmations regarding purchase capacity and funding

10. Title and Documents: Requirements for proving and transferring title

11. Conditions Precedent: Conditions that must be satisfied before completion

12. Default and Remedies: Consequences of default and available remedies

13. Stamp Duty: Responsibilities for stamp duty payment

14. Costs and Expenses: Allocation of legal and other transaction costs

15. Notices: Process for giving formal notices under the agreement

16. General Provisions: Standard boilerplate clauses including governing law, entire agreement, etc.