Mutual Release Agreement (Real Estate) for Hong Kong

Mutual Release Agreement (Real Estate) Template for Hong Kong

A comprehensive legal document governed by Hong Kong law that facilitates the mutual discharge of claims, obligations, and liabilities between parties involved in a real estate transaction or dispute. This agreement provides a framework for parties to release each other from existing and potential future claims related to property matters, while ensuring compliance with Hong Kong's property and contract laws. It includes detailed provisions for the scope of releases, consideration, representations and warranties, and may address specific property-related matters such as title issues, leasehold interests, or development rights.

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What is a Mutual Release Agreement (Real Estate)?

The Mutual Release Agreement (Real Estate) is a specialized legal instrument used in Hong Kong's property sector to formally resolve disputes or terminate ongoing obligations between parties involved in real estate transactions. This document is particularly relevant when parties wish to achieve a clean break in their property-related relationship, whether following the completion of a transaction, resolution of a dispute, or termination of a property development project. The agreement, governed by Hong Kong law, typically includes comprehensive releases of claims, specific provisions regarding property rights, and necessary formalities required under Hong Kong's property legislation. It's commonly used in scenarios involving property sales, leasing disputes, development projects, or joint venture terminations, where parties seek to prevent future litigation and achieve certainty in their legal positions.

What sections should be included in a Mutual Release Agreement (Real Estate)?

1. Parties: Identification of all parties to the agreement, including their full legal names, addresses, and any registration numbers for companies

2. Background: Recitals explaining the context of the relationship between the parties, the dispute or circumstances leading to the release, and the parties' intention to resolve all matters

3. Definitions: Definitions of key terms used throughout the agreement, including property descriptions, relevant dates, and any technical or legal terms

4. Mutual Releases: Comprehensive release provisions detailing what claims each party releases the other from, including present and future claims

5. Consideration: Details of any payment or consideration being exchanged for the releases

6. Representations and Warranties: Statements by each party about their authority to enter into the agreement and that they have not assigned any claims being released

7. Confidentiality: Provisions regarding the confidentiality of the agreement and its terms

8. Governing Law and Jurisdiction: Specification that Hong Kong law governs the agreement and Hong Kong courts have jurisdiction

9. Entire Agreement: Confirmation that this document represents the entire agreement between the parties regarding the matters being released

10. Execution: Signature blocks and execution formalities

What sections are optional to include in a Mutual Release Agreement (Real Estate)?

1. Surviving Claims: Used when certain claims or rights need to be explicitly preserved and excluded from the release

2. Non-Admission of Liability: Optional clause stating that the agreement does not constitute an admission of liability by any party

3. Return of Property: Include when there needs to be an exchange or return of property or documents between the parties

4. Third Party Rights: Required if the release affects or benefits third parties under the Contracts (Rights of Third Parties) Ordinance

5. Non-Disparagement: Optional clause preventing parties from making negative statements about each other

6. Tax Matters: Include when there are specific tax implications that need to be addressed

7. Continuing Obligations: Used when certain obligations between the parties continue despite the release

What schedules should be included in a Mutual Release Agreement (Real Estate)?

1. Property Details: Detailed description of the real estate property involved, including lot numbers, addresses, and registered interests

2. Released Claims: Comprehensive list of specific claims, disputes, or matters being released

3. Payment Schedule: If applicable, details of any payments to be made, including amounts, dates, and payment methods

4. Related Agreements: List of any related agreements that are being terminated or affected by the release

5. Required Formalities: Any specific forms or notices required under Hong Kong law for the release to be effective

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

Release Agreement

Cost

Free to use
Relevant Industries

Real Estate

Property Development

Construction

Property Management

Real Estate Investment

Property Services

Commercial Property

Residential Property

Real Estate Finance

Property Tech

Facilities Management

Building Management

Property Insurance

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Operations

Asset Management

Contract Administration

Property Development

Commercial Operations

Facilities Management

Investment

Settlement

Relevant Roles

Real Estate Lawyer

Property Manager

Legal Counsel

Compliance Officer

Real Estate Director

Property Development Manager

Asset Manager

Contract Manager

Risk Manager

Real Estate Investment Manager

Property Operations Director

General Counsel

Real Estate Partner

Commercial Director

Settlement Officer

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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