The Unilateral Deed of Absolute Sale is a crucial document in Hong Kong property transactions, used when transferring complete and unconditional ownership of property from one party to another. It is particularly relevant in situations where a clean break in ownership is required, such as outright property sales, corporate asset disposals, or family property transfers. The document must comply with Hong Kong's stringent property law requirements, including the Conveyancing and Property Ordinance and Land Registration Ordinance. It contains essential elements such as property details, consideration, warranties of title, and execution requirements. Unlike bilateral agreements, this unilateral deed is executed solely by the transferor, making it particularly useful in situations where the transferee's signature is impractical or unnecessary. The document serves as conclusive evidence of the transfer and is registrable at the Hong Kong Land Registry.
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1. Parties: Identifies the Transferor (Seller) and details of their legal capacity to sell. Note: As this is unilateral, the Transferee (Buyer) is identified but is not a party to the deed
2. Background: Recitals establishing the Transferor's ownership, right to sell, and context of the sale
3. Definitions: Defines key terms used throughout the deed, including Property, Transfer Date, and Purchase Price
4. Property Details: Detailed legal description of the property being transferred, including lot number, address, and registered particulars
5. Consideration: States the purchase price and confirms receipt of payment
6. Transfer Declaration: The operative words of transfer, absolutely divesting ownership from Transferor to Transferee
7. Title Guarantee: Transferor's warranties regarding good title and right to transfer
8. Vacant Possession: Confirmation of delivery of vacant possession on completion
9. Execution Requirements: Formal requirements for deed execution including witnessing provisions
10. Governing Law: Confirms Hong Kong law as governing law
1. Existing Encumbrances: Required if there are any existing mortgages, charges, or other encumbrances that affect the property
2. Property Management: Include if there are specific building management or maintenance obligations to be transferred
3. Tax Declarations: Required if there are specific tax implications or arrangements that need to be documented
4. Power of Attorney: Include if the transfer is being executed through an attorney
5. Special Conditions: Required if there are any unusual or specific conditions attached to the property or transfer
6. Foreign Investment Declaration: Include if the transferee is a foreign entity requiring specific declarations
1. Schedule 1 - Property Description: Detailed technical description of the property including boundaries, measurements, and plans
2. Schedule 2 - Title Documents: List of all relevant title documents and their particulars
3. Schedule 3 - Encumbrances: Details of any existing encumbrances, easements, or rights of way
4. Appendix A - Property Plans: Official plans and drawings of the property
5. Appendix B - Land Search: Recent land search results from the Land Registry
6. Appendix C - Powers of Attorney: Copies of any relevant powers of attorney (if applicable)
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