The Residential Lease Agreement With Option to Purchase is utilized in Singapore when property owners wish to lease their residential property while giving tenants the exclusive right to purchase it. This arrangement is particularly valuable in Singapore's dynamic property market, allowing tenants to secure a future purchase price while testing the property through occupation. The document must strictly comply with Singapore's regulatory framework, including the Residential Property Act, Housing and Development Act, and relevant property regulations. It includes detailed provisions for both the lease period and the purchase option, covering aspects such as rental terms, maintenance obligations, option exercise procedures, and purchase conditions.
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1. Parties: Identification and details of landlord and tenant
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Lease Terms: Duration, rent, payment terms, and security deposit
5. Option to Purchase Terms: Purchase price, option period, and exercise conditions
6. Property Use and Maintenance: Permitted use, maintenance responsibilities
7. Termination Provisions: Conditions for early termination
8. Governing Law: Jurisdiction and applicable law
1. Renovation Clause: Terms for property modifications when renovations are anticipated
2. Subletting Provisions: Terms for subletting the property if permitted
3. Pet Clause: Rules regarding keeping pets in the property
4. En Bloc Sale Provisions: Rights and procedures in case of collective sale for older developments
1. Schedule 1: Property Inventory: List of furniture, appliances, and fittings included
2. Schedule 2: Property Condition Report: Detailed condition of property at commencement
3. Schedule 3: House Rules: Specific rules and regulations for the property
4. Appendix A: Option to Purchase Form: Standard form for exercising purchase option
5. Appendix B: Floor Plan: Detailed layout of the property
Relevant legal definitions
Agreement
Commencement Date
Common Areas
Deposit
Exercise Date
Exercise Notice
Exercise Period
Fixtures and Fittings
Initial Term
Landlord
Lease
Monthly Rent
Option Fee
Option Period
Option to Purchase
Parties
Permitted Use
Premises
Property
Purchase Price
Rent Due Date
Security Deposit
Stamp Duty
Tenant
Term
Utilities
Vacant Possession
Working Day
Commencement Date
Common Areas
Deposit
Exercise Date
Exercise Notice
Exercise Period
Fixtures and Fittings
Initial Term
Landlord
Lease
Monthly Rent
Option Fee
Option Period
Option to Purchase
Parties
Permitted Use
Premises
Property
Purchase Price
Rent Due Date
Security Deposit
Stamp Duty
Tenant
Term
Utilities
Vacant Possession
Working Day
Clauses
Lease Term
Rent and Payment
Security Deposit
Option to Purchase
Exercise of Option
Purchase Price
Property Inspection
Utilities and Outgoings
Maintenance and Repairs
Insurance
Use of Property
Alterations and Additions
Assignment and Subletting
Quiet Enjoyment
Landlord's Covenants
Tenant's Covenants
Default and Remedies
Early Termination
Force Majeure
Property Access
Notices
Stamp Duty
Governing Law
Dispute Resolution
Entire Agreement
Severability
Property Tax
Fire Safety
Vacancy Possession
Good Repair Obligation
Rent and Payment
Security Deposit
Option to Purchase
Exercise of Option
Purchase Price
Property Inspection
Utilities and Outgoings
Maintenance and Repairs
Insurance
Use of Property
Alterations and Additions
Assignment and Subletting
Quiet Enjoyment
Landlord's Covenants
Tenant's Covenants
Default and Remedies
Early Termination
Force Majeure
Property Access
Notices
Stamp Duty
Governing Law
Dispute Resolution
Entire Agreement
Severability
Property Tax
Fire Safety
Vacancy Possession
Good Repair Obligation
Relevant Industries
Relevant Teams
Relevant Roles
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