The Shared Ownership Agreement is essential when multiple parties invest in or acquire property together in Singapore. This document establishes clear legal frameworks for co-ownership, whether between individuals, companies, or mixed parties. It addresses critical aspects such as ownership percentages, financial obligations, property management, decision-making processes, and exit strategies. The agreement ensures compliance with Singapore's property laws while providing security and clarity for all co-owners. It's particularly valuable for investment properties, family arrangements, or business partnerships involving shared property ownership.
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Key Requirements PROMPT example:
Shared Ownership Agreement
"I need a Shared Ownership Agreement for a commercial property in Singapore between my company (65% ownership) and two individual investors (20% and 15% ownership), with specific provisions for quarterly profit distribution and a structured exit mechanism after March 2025."
1. Parties: Identification and details of all co-owners
2. Background: Context of the shared ownership arrangement
3. Definitions: Key terms used throughout the agreement
4. Ownership Structure: Details of ownership shares and type (joint tenancy/tenancy in common)
5. Rights and Obligations: Core responsibilities and rights of each owner
6. Financial Contributions: Payment obligations for purchase, maintenance, and expenses
7. Decision Making: Process for making property-related decisions
8. Dispute Resolution: Mechanism for resolving disagreements
9. Termination: Conditions and process for ending the agreement
1. Property Management: Detailed management structure for complex properties - use when property requires significant management
2. Mortgage Provisions: Terms related to property financing - include when property is mortgaged
3. Usage Rights: Specific terms about property usage and access - include when owners have different usage rights
4. Income Distribution: Terms for sharing rental or other income - include when property generates income
1. Schedule 1 - Property Details: Legal description and details of the property
2. Schedule 2 - Ownership Percentages: Detailed breakdown of ownership shares
3. Schedule 3 - Financial Contributions: Initial and ongoing financial commitments
4. Schedule 4 - Management Rules: Detailed property management procedures
5. Appendix A - Property Plans: Floor plans and property drawings
6. Appendix B - Property Title: Copy of property title or registration documents
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