The Real Estate Assignment Contract Form is a fundamental legal instrument in Hong Kong's property market, used whenever real estate ownership is transferred between parties. This document is essential for both residential and commercial property transactions in Hong Kong, incorporating strict compliance requirements with local property laws, including the Conveyancing and Property Ordinance (Cap. 219) and Stamp Duty Ordinance (Cap. 117). It serves as the primary vehicle for documenting property transfers, detailing crucial information such as property specifications, payment terms, warranties, and completion requirements. The document's structure and content reflect Hong Kong's unique property law framework and market practices, making it indispensable for property professionals, legal practitioners, and parties involved in real estate transactions.
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1. Parties: Identification of the Assignor (seller) and Assignee (buyer), including full legal names, identification numbers, and addresses
2. Background: Brief history of the property ownership, current title details, and purpose of the assignment
3. Definitions: Definitions of key terms used throughout the agreement, including Property, Completion Date, Purchase Price, etc.
4. Property Details: Comprehensive description of the property being assigned, including address, lot number, and registered details
5. Consideration: Purchase price, payment terms, and method of payment
6. Title Guarantee: Assignor's warranties regarding good title and absence of encumbrances
7. Conditions Precedent: Conditions that must be satisfied before completion of the assignment
8. Completion: Details of the completion process, timing, and requirements
9. Assignment: The operative clause effecting the transfer of the property
10. Representations and Warranties: Standard warranties about the property's condition and legal status
11. Stamp Duty: Provisions regarding payment of stamp duty and other taxes
12. Costs: Allocation of legal and other costs related to the assignment
13. Governing Law: Confirmation that Hong Kong law governs the agreement
14. Execution: Signature blocks and execution requirements
1. Existing Tenancies: Required when the property is subject to ongoing tenancy agreements
2. Mortgage Details: Required when the property is subject to an existing mortgage that needs to be discharged
3. Car Parking Space: Required when a parking space is included in the assignment
4. Management Fees: Required for properties in managed buildings, detailing the handover of management fee obligations
5. Power of Attorney: Required when either party is acting through an attorney
6. Renovation Works: Required when there are ongoing or recently completed renovation works
7. Special Conditions: For any unique requirements or circumstances specific to the property or transaction
1. Schedule 1 - Property Description: Detailed property description including boundary plans and floor plans
2. Schedule 2 - Title Documents: List of all relevant title documents and their particulars
3. Schedule 3 - Fixtures and Fittings: Inventory of fixtures and fittings included in the sale
4. Schedule 4 - Existing Tenancy Details: Details of any existing tenancy agreements affecting the property
5. Schedule 5 - Outstanding Management Fees: Statement of any outstanding management fees or charges
6. Appendix A - Property Photographs: Recent photographs of the property's current condition
7. Appendix B - Land Registry Documents: Copies of relevant Land Registry documents
8. Appendix C - Building Management Certificate: Current building management certificate and related documents
Relevant legal definitions
Agreement
Assignor
Assignee
Assignment
Building
Building Management
Building Rules
Completion
Completion Date
Conditions Precedent
Consideration
Deed of Mutual Covenant
Encumbrances
Estate
Existing Tenancies
Fixtures and Fittings
Government Grant
Government Rent
Hong Kong
Land Registry
Management Company
Management Fees
Mortgage
Parties
Property
Purchase Price
Rates
Related Documents
Special Stamp Duty
Stamp Duty
Title Documents
Transaction Documents
Transfer Documents
Undivided Shares
Working Day
Assignor
Assignee
Assignment
Building
Building Management
Building Rules
Completion
Completion Date
Conditions Precedent
Consideration
Deed of Mutual Covenant
Encumbrances
Estate
Existing Tenancies
Fixtures and Fittings
Government Grant
Government Rent
Hong Kong
Land Registry
Management Company
Management Fees
Mortgage
Parties
Property
Purchase Price
Rates
Related Documents
Special Stamp Duty
Stamp Duty
Title Documents
Transaction Documents
Transfer Documents
Undivided Shares
Working Day
Clauses
Assignment
Property Description
Title Guarantee
Consideration
Payment Terms
Completion
Representations and Warranties
Conditions Precedent
Due Diligence
Stamp Duty
Property Management
Insurance
Default
Force Majeure
Risk and Possession
Existing Tenancies
Encumbrances
Notices
Further Assurance
Costs and Expenses
Governing Law
Dispute Resolution
Entire Agreement
Severability
Assignment Rights
Indemnification
Property Inspection
Building Management
Utilities Transfer
Registration
Property Description
Title Guarantee
Consideration
Payment Terms
Completion
Representations and Warranties
Conditions Precedent
Due Diligence
Stamp Duty
Property Management
Insurance
Default
Force Majeure
Risk and Possession
Existing Tenancies
Encumbrances
Notices
Further Assurance
Costs and Expenses
Governing Law
Dispute Resolution
Entire Agreement
Severability
Assignment Rights
Indemnification
Property Inspection
Building Management
Utilities Transfer
Registration
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Property Management
Construction
Professional Services
Investment
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Sales
Risk Management
Investment
Operations
Documentation
Corporate Services
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Conveyancing Officer
Legal Counsel
Property Developer
Investment Manager
Compliance Officer
Real Estate Investment Advisor
Bank Manager
Property Valuer
Title Insurance Officer
Real Estate Transaction Coordinator
Risk Management Officer
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