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Closed Deed Of Sale Template for Hong Kong

A Closed Deed of Sale is a formal legal document used in Hong Kong for property transactions, representing the final agreement between a vendor and purchaser for the sale and purchase of real property. This document, governed by Hong Kong law, contains all essential terms of the sale including property details, purchase price, completion arrangements, and parties' obligations. It incorporates specific requirements under Hong Kong's Conveyancing and Property Ordinance and must be properly executed as a deed to ensure legal validity and enforceability. The document serves as conclusive evidence of the property transfer and must be registered with the Hong Kong Land Registry.

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What is a Closed Deed Of Sale?

A Closed Deed of Sale is the definitive legal instrument used in Hong Kong property transactions to transfer real estate ownership from a vendor to a purchaser. This document is typically used after preliminary agreements have been signed and all conditions have been met or waived. It represents the formal completion of the property sale process and must comply with Hong Kong's strict legal requirements for property conveyancing. The deed includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and completion arrangements. It must be properly executed as a deed, witnessed, and registered with the Hong Kong Land Registry. The document is crucial for both residential and commercial property transactions and requires careful preparation to ensure all legal requirements are met and the interests of all parties are protected.

What sections should be included in a Closed Deed Of Sale?

1. Parties: Full legal names and addresses of the Vendor and Purchaser

2. Background: Context of the sale and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the deed

4. Agreement for Sale: Core agreement clause stating the vendor's agreement to sell and the purchaser's agreement to buy

5. Purchase Price: Specification of the purchase price and payment terms

6. Completion: Details of completion date, time, and place, and completion obligations

7. Title and Property: Warranties regarding title and property condition

8. Vendor's Obligations: Pre-completion and completion obligations of the vendor

9. Purchaser's Obligations: Pre-completion and completion obligations of the purchaser

10. Risk and Insurance: Provisions regarding risk transfer and insurance requirements

11. Default: Consequences of default by either party

12. Notices: Process for serving notices under the deed

13. Governing Law: Confirmation of Hong Kong law as governing law

14. Execution: Formal execution blocks for all parties

What sections are optional to include in a Closed Deed Of Sale?

1. Conditions Precedent: Used when completion is subject to specific conditions being met

2. Existing Tenancies: Required when the property is sold subject to existing tenancies

3. Mortgage Discharge: Included when the property is being sold subject to an existing mortgage

4. Provisional Period: Used when there's a period between preliminary agreement and formal deed

5. Property Management: Required for properties in managed buildings or estates

6. Fixtures and Fittings: Detailed when specific items are included/excluded from sale

7. Tax Indemnity: Used when specific tax arrangements or indemnities are required

8. Agency: Required when real estate agents are involved in the transaction

What schedules should be included in a Closed Deed Of Sale?

1. Schedule 1 - Property Description: Detailed legal description of the property including lot number, address, and registered details

2. Schedule 2 - Purchase Price Breakdown: Detailed breakdown of purchase price, deposits, and payment schedule

3. Schedule 3 - Completion Requirements: List of documents to be delivered on completion

4. Schedule 4 - Fixtures and Fittings: Inventory of items included in the sale

5. Schedule 5 - Existing Encumbrances: Details of any existing encumbrances affecting the property

6. Appendix A - Property Plans: Floor plans and location maps of the property

7. Appendix B - Title Documents: Copies of relevant title documents and land search

8. Appendix C - Certificates: Relevant certificates including occupation permit and deed of mutual covenant

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Hong Kong

Cost

Free to use

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