Property Sharing Agreement Template for Singapore

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Key Requirements PROMPT example:

Property Sharing Agreement

"Need a Property Sharing Agreement for a commercial building in Singapore CBD that will be jointly owned by three companies, with clear provisions for maintenance cost sharing and specific usage schedules to be implemented from March 2025."

What is a Property Sharing Agreement?

A Property Sharing Agreement is essential when multiple parties wish to share ownership or usage rights of a property in Singapore. This document is commonly used for both residential and commercial properties, establishing clear terms for co-ownership arrangements. It addresses crucial aspects such as ownership structure, financial responsibilities, maintenance obligations, and dispute resolution mechanisms, while ensuring compliance with Singapore's property laws and regulations. The agreement helps prevent future disputes by clearly documenting each party's rights and obligations in the shared property arrangement.

What sections should be included in a Property Sharing Agreement?

1. Parties: Identification and details of all parties involved in the sharing arrangement

2. Background: Context of the agreement and property details

3. Definitions: Key terms used throughout the agreement

4. Property Details: Specific description of the shared property including address, title details, and physical description

5. Ownership Structure: Details of how the property is shared between parties, including ownership percentages and rights

6. Financial Obligations: Cost sharing arrangements and financial responsibilities including maintenance, taxes, and utilities

7. Usage Rights: Terms governing the use of the shared property including access rights and restrictions

8. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

9. Governing Law: Specification that Singapore law governs the agreement and jurisdiction details

What sections are optional to include in a Property Sharing Agreement?

1. Property Management: Rules for managing the property, including maintenance schedules and decision-making processes

2. Exit Provisions: Detailed procedures for selling shares, first right of refusal, and termination processes

3. Dispute Resolution: Procedures for resolving conflicts including mediation and arbitration provisions

4. Insurance: Requirements for property insurance and allocation of insurance costs

5. Alterations and Improvements: Procedures for making changes to the property and cost-sharing for improvements

What schedules should be included in a Property Sharing Agreement?

1. Schedule 1 - Property Title Documents: Copies of official property ownership documents and title deeds

2. Schedule 2 - Financial Contribution Schedule: Detailed breakdown of financial contributions by each party including initial contributions and ongoing expenses

3. Schedule 3 - Usage Schedule: Specific arrangements for property usage times/areas if applicable

4. Schedule 4 - Maintenance Schedule: Details of maintenance responsibilities and cost allocation between parties

5. Appendix A - Property Floor Plan: Detailed floor plan showing shared and exclusive use areas if applicable

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

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Real Estate
Residential Housing
Commercial Property
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Finance
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Relevant Roles

Property Manager
Real Estate Lawyer
Investment Manager
Property Developer
Asset Manager

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Property Agreement Between Two Parties

A legally binding agreement governing property transactions between two parties under Singapore law.

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Let's create your Property Sharing Agreement

What is a Property Sharing Agreement?

What sections should be included in a Property Sharing Agreement?

What sections are optional to include in a Property Sharing Agreement?

What schedules should be included in a Property Sharing Agreement?

Authors

Alex Denne

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