Real Property Purchase Agreement for Singapore

Real Property Purchase Agreement Template for Singapore

A Real Property Purchase Agreement under Singapore law is a legally binding contract that facilitates the transfer of real property from a seller to a buyer. The agreement must comply with Singapore's strict property laws, including the Residential Property Act and Land Titles Act. It details the terms of sale, purchase price, payment schedule, property specifications, and conditions for completion. The document incorporates specific provisions required by Singapore law regarding property transfer, stamp duties, and foreign ownership restrictions where applicable.

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What is a Real Property Purchase Agreement?

The Real Property Purchase Agreement is essential for any real estate transaction in Singapore. It serves as the primary document governing the sale and purchase of residential or commercial property, ensuring compliance with Singapore's comprehensive property laws and regulations. This agreement is required whether the transaction involves private properties, HDB flats (subject to additional rules), or commercial real estate. It includes crucial details about the property, payment terms, conditions precedent, warranties, and the completion process. The document must address specific Singapore requirements such as stamp duty obligations, foreign ownership restrictions if applicable, and proper property registration procedures.

What sections should be included in a Real Property Purchase Agreement?

1. Parties: Details of the vendor and purchaser, including full legal names, identification/registration numbers, and addresses

2. Background: Context of the transaction and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including lot number, strata title details, boundaries, and included fixtures

5. Purchase Price: Agreement on purchase price, payment schedule, and deposit requirements

6. Completion: Terms and timing of completion, including conditions precedent

7. Title and Transfer: Provisions regarding clean title transfer and registration requirements

8. Representations and Warranties: Standard warranties about property ownership, condition, and encumbrances

What sections are optional to include in a Real Property Purchase Agreement?

1. Foreign Ownership Compliance: Required when purchaser is a foreign person or entity - includes necessary declarations and compliance with Residential Property Act

2. HDB Compliance: Specific provisions for HDB properties including eligibility requirements and statutory declarations

3. Tenancy Provisions: Details of existing tenancies and provisions for handling ongoing lease agreements

4. GST Provisions: GST treatment of the transaction and related tax obligations

What schedules should be included in a Real Property Purchase Agreement?

1. Property Schedule: Detailed property specifications, floor plans, and boundaries

2. Inventory List: List of included fixtures and fittings

3. Title Documents: Copies of relevant title documents and searches

4. Payment Schedule: Detailed breakdown of payment milestones

5. Existing Tenancy Documents: Copies of current tenancy agreements if applicable

6. Property Condition Report: Current condition of property and any defects

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Investment

Relevant Teams

Legal
Real Estate
Property Management
Asset Management
Facilities Management
Investment
Finance
Corporate Services
Operations
Risk Management

Relevant Roles

Real Estate Manager
Property Director
Legal Counsel
Conveyancing Lawyer
Property Development Manager
Asset Manager
Investment Manager
Corporate Real Estate Manager
Facilities Manager
Property Portfolio Manager

Industries

Residential Property Act (Cap. 274): Primary legislation governing residential property ownership in Singapore, particularly important for foreign ownership restrictions and residential property transactions

Land Titles Act (Cap. 157): Regulates the registration and transfer of land titles in Singapore, establishing the land titles system and procedures for property ownership transfer

Housing and Development Act (Cap. 129): Governs public housing (HDB) properties in Singapore, including regulations on purchase, sale, and ownership of HDB flats

Civil Law Act (Cap. 43): Provides the fundamental legal framework for civil matters including contract law principles applicable to property transactions

Conveyancing and Law of Property Act (Cap. 61): Regulates the legal aspects of property transfer and real estate transactions in Singapore

Stamp Duties Act: Governs the stamp duty obligations including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Planning Act: Controls land use and development, including zoning regulations and property usage restrictions

Building Control Act: Regulates building works and ensures structural integrity and safety standards of properties

Environmental Public Health Act: Addresses environmental concerns and health standards related to property ownership and maintenance

COVID-19 (Temporary Measures) Act 2020: Temporary legislation affecting property transactions during the pandemic period, including relief measures and special provisions

Executive Condominium Housing Scheme Act: Specific legislation governing Executive Condominiums, including ownership and sale restrictions

Property Tax Act: Governs property tax obligations and assessments for real estate in Singapore

Goods and Services Tax Act: Relevant for GST implications in property transactions, particularly for commercial properties

SLA Regulations: Singapore Land Authority regulations governing land administration and management

URA Guidelines: Urban Redevelopment Authority guidelines controlling property development and usage

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What is a Real Property Purchase Agreement?

What sections should be included in a Real Property Purchase Agreement?

What sections are optional to include in a Real Property Purchase Agreement?

What schedules should be included in a Real Property Purchase Agreement?

Authors

Alex Denne

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