Real Estate Contract Cancellation Letter for Singapore

Real Estate Contract Cancellation Letter Template for Singapore

A Real Estate Contract Cancellation Letter under Singapore law is a formal document used to terminate a property sale and purchase agreement. It must comply with Singapore's property laws, including the Civil Law Act and Residential Property Act, and should address specific requirements for different property types (private or HDB). The document outlines the cancellation terms, financial settlements, and timeline for the termination process while ensuring compliance with Singapore's strict property transaction regulations.

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What is a Real Estate Contract Cancellation Letter?

The Real Estate Contract Cancellation Letter is a crucial document in Singapore's property market, used when either party needs to terminate a property sale agreement. It's essential when circumstances necessitate contract termination, such as failure to secure financing, property defects discovery, or mutual agreement to cancel. The document must align with Singapore's property laws and regulations, including HDB rules where applicable. It typically includes details of the original contract, reasons for cancellation, financial implications, and settlement terms. This document is particularly important given Singapore's strict property transaction regulations and the significant financial implications of property deals.

What sections should be included in a Real Estate Contract Cancellation Letter?

1. Date and Address Block: Current date and complete address details of recipient

2. Reference Information: Property address and original contract details

3. Cancellation Statement: Clear statement of intent to cancel the contract

4. Reason for Cancellation: Specific grounds for contract cancellation

5. Financial Settlement: Details of deposit refund or other financial implications

6. Timeline: Effective date of cancellation and any relevant deadlines

7. Closing: Signature block and contact information

What sections are optional to include in a Real Estate Contract Cancellation Letter?

1. Agent Details: Include when property agents are involved in the transaction

2. HDB Specific Clauses: Special provisions for HDB properties when cancelling HDB property transaction

3. COVID-19 Provisions: Reference to COVID-19 temporary measures when cancellation is related to pandemic impact

What schedules should be included in a Real Estate Contract Cancellation Letter?

1. Original Sale and Purchase Agreement: Copy of the contract being cancelled

2. Option to Purchase: If applicable, copy of the Option to Purchase document

3. Proof of Payment: Records of deposits or payments made

4. Supporting Documents: Any relevant documentation supporting the grounds for cancellation

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

Singapore

Publisher

Genie AI

Cost

Free to use
Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, contract termination, and requirements for valid cancellation in Singapore

Residential Property Act (Cap. 274): Legislation regulating residential property transactions and specific requirements for foreign buyers/sellers in Singapore

Housing and Development Act (Cap. 129): Legislation governing HDB flats and special rules for public housing cancellations in Singapore

Conveyancing and Law of Property Act (Cap. 61): Legal framework outlining requirements for property transactions and defining rights and obligations in property dealings

Estate Agents Act (Cap. 95A): Legislation covering requirements for property agents and commission implications upon cancellation

Stamp Duties Act (Cap. 312): Legislation governing stamp duty refunds and Additional Buyer's Stamp Duty (ABSD) considerations in property transactions

COVID-19 (Temporary Measures) Act 2020: Temporary legislation providing special provisions for property transactions affected by COVID-19 impacts

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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