The Simple Land Purchase Contract serves as a fundamental legal instrument for real estate transactions in Hong Kong's property market. This document is typically used when parties wish to execute a straightforward land purchase without unusual complications or special conditions. It incorporates all essential elements required under Hong Kong law, including compliance with the Conveyancing and Property Ordinance (Cap. 219) and other relevant legislation. The contract is designed to protect both parties' interests while ensuring the transaction meets local regulatory requirements, including proper registration with the Land Registry and payment of applicable stamp duties. It's particularly suitable for transactions involving private land parcels, residential properties, or commercial real estate where standard terms and conditions apply.
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1. Parties: Identification and details of the Vendor and Purchaser
2. Background: Context of the transaction and brief property overview
3. Definitions: Key terms used throughout the agreement
4. Property Details: Full legal description of the property including lot number, address, and registered particulars
5. Purchase Price: Agreed purchase price and payment terms including deposits and balance payment
6. Completion: Completion date, procedures, and obligations of both parties
7. Title and Transfer: Vendor's warranty of good title and transfer obligations
8. Representations and Warranties: Standard warranties from both parties regarding capacity and authority
9. Conditions Precedent: Conditions that must be satisfied before completion
10. Costs and Stamp Duty: Allocation of transaction costs and stamp duty obligations
11. Default and Termination: Consequences of default and termination rights
12. Notices: Process for serving notices between parties
13. Governing Law: Confirmation of Hong Kong law as governing law
1. Existing Tenancies: Required if the property is subject to existing tenancy agreements
2. Property Management: Required for properties in multi-story buildings or estates
3. Mortgage Status: Required if the property has an existing mortgage to be discharged
4. Environmental Matters: Required if there are known environmental issues or contamination
5. Planning Restrictions: Required if there are specific planning conditions or restrictions
6. Car Parking Spaces: Required if car parking spaces are included in the sale
7. Fixtures and Fittings: Required if specific items are included/excluded from the sale
1. Schedule 1 - Property Description: Detailed property description including boundaries and plan
2. Schedule 2 - Title Documents: List of relevant title documents and encumbrances
3. Schedule 3 - Completion Requirements: Detailed list of documents required for completion
4. Schedule 4 - Fixtures and Fittings: Inventory of items included in the sale
5. Appendix A - Property Plans: Floor plans and location maps
6. Appendix B - Land Search: Recent land search results
7. Appendix C - Photographs: Current photographs of the property (if relevant)
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