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Immovable Property Sale Agreement for Hong Kong

Immovable Property Sale Agreement Template for Hong Kong

A comprehensive legal agreement governed by Hong Kong law that documents the sale and purchase of immovable property in Hong Kong. This agreement sets out the terms and conditions of the property transfer, including purchase price, payment terms, completion requirements, and parties' obligations. It incorporates specific requirements under Hong Kong property law, including provisions for stamp duty, title requirements, and property registration under the Hong Kong Land Registry system. The document ensures compliance with the Conveyancing and Property Ordinance and other relevant Hong Kong property legislation.

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Immovable Property Sale Agreement

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What is a Immovable Property Sale Agreement?

The Immovable Property Sale Agreement is a crucial legal document used in Hong Kong real estate transactions to formalize the transfer of property ownership between parties. It is essential for both residential and commercial property transactions in Hong Kong, incorporating specific requirements under local property law, including the Conveyancing and Property Ordinance (Cap. 219) and Land Registration Ordinance (Cap. 128). The agreement details all aspects of the property transfer, from initial deposit to final completion, and includes provisions for title verification, property condition, stamp duty obligations, and completion requirements. This document is particularly important in Hong Kong's dynamic property market, where strict compliance with local property laws and regulations is essential for valid property transfers.

What sections should be included in a Immovable Property Sale Agreement?

1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses

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

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

4. Property Details: Comprehensive description of the property including lot number, address, and registered details

5. Purchase Price: Statement of the purchase price and payment terms including deposits and balance payment

6. Conditions Precedent: Any conditions that must be satisfied before completion can occur

7. Title and Title Documents: Vendor's warranty of good title and provisions regarding delivery of title documents

8. Completion: Completion date, location, and requirements for completion

9. Vacant Possession: Obligation to deliver vacant possession and condition of property upon delivery

10. Representations and Warranties: Standard warranties about the property's condition, ownership, and encumbrances

11. Risk and Insurance: Transfer of risk and insurance obligations

12. Default Provisions: Consequences of default by either party

13. Stamp Duty: Obligations regarding payment of stamp duty

14. Notices: How formal notices under the agreement should be given

15. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and severability

What sections are optional to include in a Immovable Property Sale Agreement?

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

2. Mortgage: Required when the property is sold subject to an existing mortgage

3. Inspection and Physical Condition: Detailed provisions about property condition when specific issues need to be addressed

4. Car Parking Space: Required when a parking space is included in the sale

5. Management Fees and Utilities: Required for properties in managed buildings or developments

6. Renovation Works: Required when there are ongoing or recently completed renovation works

7. Commission: Required when there are estate agent commission arrangements to be documented

What schedules should be included in a Immovable Property Sale Agreement?

1. Schedule 1 - Property Details: Detailed property description including boundary plans and floor plans

2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment installments and timing

3. Schedule 3 - Title Documents: List of title documents to be delivered on completion

4. Schedule 4 - Fixtures and Fittings: Inventory of items included/excluded from the sale

5. Schedule 5 - Existing Tenancies: Details of any existing tenancy agreements (if applicable)

6. Appendix A - Property Floor Plan: Floor plan showing layout and dimensions of the property

7. Appendix B - Photographs: Recent photographs of the property (if agreed to be included)

8. Appendix C - Building Management Rules: Relevant building management rules and regulations (for properties in managed buildings)

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 | Serial Founder & Legal AI Author

Jurisdiction

Hong Kong

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions































Clauses






























Relevant Industries

Real Estate

Property Development

Banking and Finance

Construction

Property Investment

Hospitality

Retail

Industrial

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Investment

Compliance

Operations

Finance

Risk Management

Asset Management

Facilities Management

Relevant Roles

Real Estate Lawyer

Property Manager

Estate Agent

Real Estate Director

Property Developer

Investment Manager

Facilities Manager

Legal Counsel

Conveyancing Clerk

Property Investment Analyst

Real Estate Investment Director

Asset Manager

Property Portfolio Manager

Company Secretary

Compliance Officer

Industries








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