0
Michael Leong SIM & PARTNERS
Megaharta Real Estate
Sale and Purchase Direct From Developer Sub-Sale With Title Without Title (Title Yet To Be Issued) With Title Without Titl...
sub-sale Developer First  Purchaser (Vendor) Purchaser Purchaser sub-sub-sale
Types of Houses
Single Storey  Bungalow House
Single Storey Terrace
Double Storey Bungalow
Double Storey Corner Lot
Double Storey Link House
Townhouse
Three Storey Shop House
Semi-D House
Flats
Walk-up Apartment
Apartment
Condominium
Factory
Land
Terms and Conditions  (Sale and Purchase Agreement) The Parties The Recitals The Terms and Conditions
THE PARTIES The Vendor (Seller) The Purchaser (Buyer)
<ul><li>The registered owner and the property </li></ul><ul><li>The encumbrances </li></ul><ul><li>The intention of the pa...
<ul><li>The agreement to sell </li></ul><ul><li>Conditions Precedent </li></ul><ul><li>Special Express Conditions </li></u...
<ul><li>Lodgment of Caveat </li></ul><ul><li>Documentation </li></ul><ul><li>Apportionment of Outgoings </li></ul><ul><li>...
<ul><li>Government Acquisition </li></ul><ul><li>Effect of Bankruptcy </li></ul><ul><li>Vendor’s representations and warra...
<ul><li>Binding Effect </li></ul><ul><li>Undertakings and Covenants </li></ul><ul><li>Severability </li></ul><ul><li>Knowl...
<ul><li>THE REGISTERED OWNER AND PROPERTY </li></ul><ul><li>The details of the land (freehold or leasehold) on which prope...
<ul><li>THE ENCUMBRANCES </li></ul><ul><li>Whether property charge to any Bank </li></ul><ul><li>If yes, details of charge...
<ul><li>The encumbrances  </li></ul><ul><li>Express Conditions </li></ul><ul><li>(Syarat-syarat nyata) </li></ul><ul><li>“...
<ul><li>Restriction-in-interest  </li></ul><ul><li>(Sekatan-sekatan kepentingan) </li></ul><ul><li>&quot;Tanah yang diberi...
 
 
 
 
 
SNP (With Title)  RECITALS The intention of the parties Intention to create a legally binding contract Vendor and Purchaser
<ul><li>The Purchaser’s loan to finance </li></ul><ul><li>The intention of the Purchaser to take up loan </li></ul>SNP (Wi...
<ul><li>The Solicitors </li></ul><ul><li>The Vendor’s Solicitors </li></ul><ul><li>The Purchaser’s Solicitors </li></ul>SN...
The Agreement  Vendor Purchaser
Conditions Precedent Consent (leasehold) Vendor Purchaser State Authority’s consent to transfer S 433B NLC 1965 (foreigner...
Kaveat Gadaian
Consideration & Price Purchase Price Earnest Deposit Balance Deposit Balance Purchase Price Normally  pay to agent Upon  s...
Balance Purchase Price With title With consent Without consent 90 days from date of receipt by Purchaser’s Solicitors of t...
 
 
<ul><li>Section 322 of the National Land Code 1965 </li></ul><ul><li>Purpose of lodgment </li></ul><ul><li>To prohibits th...
<ul><li>Vendor’s protection </li></ul><ul><li>Purchaser to sign Withdrawal of Caveat Form in escrow  </li></ul><ul><li>For...
<ul><li>Execution of Documents </li></ul><ul><li>By the Vendor and the Purchaser </li></ul><ul><li>The Sale and Purchase A...
 
 
<ul><li>Who to sign agreement first? </li></ul><ul><li>Purchaser </li></ul><ul><li>Then Vendor </li></ul>Documentation
<ul><li>DELIVERY OF DOCUMENTS </li></ul><ul><li>To the Purchaser’s Solicitors (from the Vendor’s Solicitors) </li></ul><ul...
 
 
 
<ul><li>DELIVERY OF DOCUMENTS </li></ul><ul><li>To the Purchaser’s Solicitors (from the Vendor’s Solicitors) </li></ul><ul...
<ul><li>WHAT ARE OUTGOINGS? </li></ul><ul><li>Quit rent  </li></ul><ul><li>Land assessment </li></ul><ul><li>Electricity  ...
Land Assessment  (Cukai Pintu) DBKL
Land  Assessment (Cukai Pintu)
<ul><li>Time of apportionment </li></ul><ul><li>At the date of delivery of vacant possession (keys) </li></ul>Apportionmen...
<ul><li>IF WITH LOAN </li></ul><ul><li>After the expiry of 14 days from the date of presentation </li></ul>When to release...
<ul><li>IF WITHOUT LOAN </li></ul><ul><li>After the expiry of 14 days from the date of receipt by the Purchaser’s Solicito...
<ul><li>THE DEFAULT </li></ul><ul><li>Failing to pay the Balance Purchase Price within the time stipulated  </li></ul>Defa...
<ul><li>VENDOR’S REMEDY </li></ul><ul><li>Terminate agreement </li></ul><ul><li>Deposit paid forfeited </li></ul><ul><li>F...
<ul><li>THE DEFAULT </li></ul><ul><li>Failing to transfer the Property to the Purchaser </li></ul>Default by Vendor
Default by Vendor Terminate Agreement Specific Performance OR
<ul><li>PURCHASER’S REMEDY </li></ul><ul><li>Terminate Agreement </li></ul><ul><li>Vendor to refund the Deposit paid </li>...
<ul><li>PURCHASER’S REMEDY </li></ul><ul><li>Specific Performance </li></ul><ul><li>Vendor to specifically perform the con...
<ul><li>Upon receipt by Vendor’s Solicitors the Balance Purchase Price and the late payment of interest (if any) and (appo...
<ul><li>TIME OF ACQUISITION </li></ul><ul><li>After signing of agreement but before presentation of Memorandum of Transfer...
<ul><li>TIME OF ACQUISITION </li></ul><ul><li>After signing of agreement but before presentation of Memorandum of Transfer...
<ul><li>PURCHASER’S ENTITLEMENT </li></ul><ul><li>Terminate agreement </li></ul><ul><li>Vendor to refund Deposit </li></ul...
<ul><li>PURCHASER’S ENTITLEMENT </li></ul><ul><li>Continue with agreement </li></ul><ul><li>Vendor to notify government of...
<ul><li>Is the registered owner of Property </li></ul><ul><li>Has good and clean title to pass  </li></ul><ul><li>Has auth...
<ul><li>All extensions, renovations duly approved by the authorities </li></ul><ul><li>No notice of legal proceedings affe...
<ul><li>Substantially the same condition and state as at the date of viewing </li></ul><ul><li>Joint inspection </li></ul>...
Notices
Passing of Risk
Passing  of Risk
Passing  of Risk
When do you think RISK should pass?
<ul><li>At the time of delivery of vacant possession </li></ul>Passing  of Risk
Time of Performance Shall be of the essence
<ul><li>Binding upon heir, personal representatives, executors, administrators, successors-in-title and assigns </li></ul>...
<ul><li>Solicitors’ Fees (its own) </li></ul><ul><li>Stamp Duty (Purchaser) </li></ul><ul><li>Section 433B NLC (Purchaser)...
Schedule of Fees  (Sale & Transfer) 0.5% For the next RM2,000,000-00 Negotiable on the excess (but shall not exceed 0.4% o...
<ul><li>Subject to existing tenancy </li></ul><ul><li>Novation of the tenancy agreement </li></ul><ul><li>To pro rate rent...
<ul><li>Security & Utilities Deposit (if required) </li></ul><ul><li>Rental (if any) </li></ul><ul><li>If WITH rental appo...
<ul><li>If WITHOUT rental apportionment of outgoings at the time of delivery of vacant possession </li></ul>Early Delivery...
WITHOUT TITLE
<ul><li>Within 90 days from the date of the receipt by the Purchaser’s Solicitors of the letter of confirmation of complia...
<ul><li>The Principal Agreement </li></ul><ul><li>(Between the Developer/ Proprietor and the First Purchaser/Vendor) </li>...
<ul><li>The Loan Documentation </li></ul><ul><li>(The First Purchaser’s/ Vendor’s loan) </li></ul><ul><li>The Facilities A...
<ul><li>The Sale and Purchase Agreement </li></ul><ul><li>The Deed of Assignment (by way of sale) (cf : Memorandum of Tran...
<ul><li>OR Within 90 days from the date of the receipt by the Purchaser’s Solicitors of the letter of confirmation from th...
<ul><li>Solicitors’ Fees (its own) </li></ul><ul><li>Stamp Duty (Purchaser) </li></ul><ul><li>Developer’s Confirmation (Pu...
Terminology Charge Assignment Discharge of Charge Receipt and Reassignment Memorandum of Transfer Deed of Assignment (by w...
<ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Strata Title Registered in Vendor’s name </li></ul>S...
<ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Restriction-in-interest endorsed on Strata Title </l...
Developer First  Purchaser (Vendor) Purchaser Strata Title Issued MOT-1 MOT-2 Direct Transfer NOT agreeable Consent to Tra...
<ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Consent to Transfer not required </li></ul><ul><li>I...
Developer First  Purchaser (Vendor) Purchaser DIRECT TRANSFER Strata Title Issued MOT Stamp  duty
THE  END
Upcoming SlideShare
Loading in...5
×

Megaharta

2,185

Published on

Sales & Purchase Agreement

Published in: Real Estate, Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
2,185
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
40
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Transcript of "Megaharta"

  1. 1. Michael Leong SIM & PARTNERS
  2. 2. Megaharta Real Estate
  3. 3. Sale and Purchase Direct From Developer Sub-Sale With Title Without Title (Title Yet To Be Issued) With Title Without Title (Title Yet To Be Issued) House Shop House Land Factory Flats Apartment Condominium Land House Shop House Land Factory Flats Apartment Condominium Land Strata Title (Flats/Apartment Condominium)
  4. 4. sub-sale Developer First Purchaser (Vendor) Purchaser Purchaser sub-sub-sale
  5. 5. Types of Houses
  6. 6. Single Storey Bungalow House
  7. 7. Single Storey Terrace
  8. 8. Double Storey Bungalow
  9. 9. Double Storey Corner Lot
  10. 10. Double Storey Link House
  11. 11. Townhouse
  12. 12. Three Storey Shop House
  13. 13. Semi-D House
  14. 14. Flats
  15. 15. Walk-up Apartment
  16. 16. Apartment
  17. 17. Condominium
  18. 18. Factory
  19. 19. Land
  20. 20. Terms and Conditions (Sale and Purchase Agreement) The Parties The Recitals The Terms and Conditions
  21. 21. THE PARTIES The Vendor (Seller) The Purchaser (Buyer)
  22. 22. <ul><li>The registered owner and the property </li></ul><ul><li>The encumbrances </li></ul><ul><li>The intention of the parties </li></ul><ul><li>The Purchaser’s loan to finance </li></ul><ul><li>The Solicitors </li></ul>SNP (With Title) THE RECITALS
  23. 23. <ul><li>The agreement to sell </li></ul><ul><li>Conditions Precedent </li></ul><ul><li>Special Express Conditions </li></ul><ul><li>Consideration and Price </li></ul><ul><li>Payment of the Balance Purchase Price </li></ul><ul><li>Purchaser’s Loan </li></ul><ul><li>Absence of Purchaser’s Loan </li></ul>SNP (With Title) - Terms
  24. 24. <ul><li>Lodgment of Caveat </li></ul><ul><li>Documentation </li></ul><ul><li>Apportionment of Outgoings </li></ul><ul><li>Release of Moneys </li></ul><ul><li>Redemption of Property </li></ul><ul><li>Default Clause </li></ul><ul><li>Delivery of Vacant Possession </li></ul>SNP (With Title) - Terms
  25. 25. <ul><li>Government Acquisition </li></ul><ul><li>Effect of Bankruptcy </li></ul><ul><li>Vendor’s representations and warranties </li></ul><ul><li>Condition of Property </li></ul><ul><li>Passing of Risk </li></ul><ul><li>Notices </li></ul><ul><li>Time of Performance </li></ul>SNP (With Title) - Terms
  26. 26. <ul><li>Binding Effect </li></ul><ul><li>Undertakings and Covenants </li></ul><ul><li>Severability </li></ul><ul><li>Knowledge or Acquiescence </li></ul><ul><li>Costs </li></ul><ul><li>Definitions </li></ul>SNP (With Title) - Terms
  27. 27. <ul><li>THE REGISTERED OWNER AND PROPERTY </li></ul><ul><li>The details of the land (freehold or leasehold) on which property is erected </li></ul><ul><li>The details of the property such as the type of property, measurement and the postal address </li></ul>SNP (With Title) RECITALS
  28. 28. <ul><li>THE ENCUMBRANCES </li></ul><ul><li>Whether property charge to any Bank </li></ul><ul><li>If yes, details of charge </li></ul><ul><li>Whether any restriction-in-interest </li></ul><ul><li>If yes, list the restriction(s) </li></ul>SNP (With Title) RECITALS
  29. 29. <ul><li>The encumbrances </li></ul><ul><li>Express Conditions </li></ul><ul><li>(Syarat-syarat nyata) </li></ul><ul><li>“ Bangunan Kediaman sahaja” </li></ul><ul><li>“ Tanaman getah sahaja” </li></ul><ul><li>“ Perindustrian sahaja” </li></ul>SNP (With Title) RECITALS
  30. 30. <ul><li>Restriction-in-interest </li></ul><ul><li>(Sekatan-sekatan kepentingan) </li></ul><ul><li>&quot;Tanah yang diberimilik ini tidak boleh dijual, dipajak, digadaikan atau dipindahmilik dengan apa cara sekalipun melainkan dengan kebenaran Pihak Berkuasa Negeri.” </li></ul>SNP (With Title) RECITALS
  31. 36. SNP (With Title) RECITALS The intention of the parties Intention to create a legally binding contract Vendor and Purchaser
  32. 37. <ul><li>The Purchaser’s loan to finance </li></ul><ul><li>The intention of the Purchaser to take up loan </li></ul>SNP (With Title) RECITALS
  33. 38. <ul><li>The Solicitors </li></ul><ul><li>The Vendor’s Solicitors </li></ul><ul><li>The Purchaser’s Solicitors </li></ul>SNP (With Title) RECITALS
  34. 39. The Agreement Vendor Purchaser
  35. 40. Conditions Precedent Consent (leasehold) Vendor Purchaser State Authority’s consent to transfer S 433B NLC 1965 (foreigner) State Authority’s consent to charge (if loan)
  36. 41. Kaveat Gadaian
  37. 42. Consideration & Price Purchase Price Earnest Deposit Balance Deposit Balance Purchase Price Normally pay to agent Upon signing of Agreement OR Upon receipt by Purchaser’s Solicitors of State Authority’s Consent to transfer
  38. 43. Balance Purchase Price With title With consent Without consent 90 days from date of receipt by Purchaser’s Solicitors of the State Authority’s letter of consent to transfer or charge 90 days from date of SNP
  39. 46. <ul><li>Section 322 of the National Land Code 1965 </li></ul><ul><li>Purpose of lodgment </li></ul><ul><li>To prohibits the Vendor from dealing with the Property </li></ul><ul><li>For example - Selling to a third party </li></ul><ul><li>Issue of Priority </li></ul>Lodgment of Caveat
  40. 47. <ul><li>Vendor’s protection </li></ul><ul><li>Purchaser to sign Withdrawal of Caveat Form in escrow </li></ul><ul><li>Form to be deposited with Purchaser’s Solicitors </li></ul><ul><li>Purchaser’s Solicitors to withdraw caveat upon lawful termination of agreement </li></ul>Lodgment of Caveat
  41. 48. <ul><li>Execution of Documents </li></ul><ul><li>By the Vendor and the Purchaser </li></ul><ul><li>The Sale and Purchase Agreement </li></ul><ul><li>The Memorandum of Transfer (Form 14A) </li></ul><ul><li>The Stamping Proforma (PDS 15) </li></ul><ul><li>The Consent to Transfer Form (Vendor) </li></ul><ul><li>Section 433B NLC 1965 (If Purchaser - Foreigner) </li></ul><ul><li>Letter of Appointment of Solicitor </li></ul>Documentation
  42. 51. <ul><li>Who to sign agreement first? </li></ul><ul><li>Purchaser </li></ul><ul><li>Then Vendor </li></ul>Documentation
  43. 52. <ul><li>DELIVERY OF DOCUMENTS </li></ul><ul><li>To the Purchaser’s Solicitors (from the Vendor’s Solicitors) </li></ul><ul><li>The Memorandum of Transfer (Form 14A) </li></ul><ul><li>The Stamping Proforma (PDS 15) </li></ul><ul><li>The Consent to transfer Form </li></ul><ul><li>The Section 433B NLC 1965 (Foreigner) </li></ul><ul><li>Identity Card of the Vendor (if individual) </li></ul>Documentation
  44. 56. <ul><li>DELIVERY OF DOCUMENTS </li></ul><ul><li>To the Purchaser’s Solicitors (from the Vendor’s Solicitors) </li></ul><ul><li>If Vendor a company </li></ul><ul><li>The latest Company Forms 24, 44 & 49 </li></ul><ul><li>The Memorandum of Articles & Association </li></ul><ul><li>The Vendor’s company Board of Directors’ Resolution to dispose Property </li></ul>Documentation
  45. 57. <ul><li>WHAT ARE OUTGOINGS? </li></ul><ul><li>Quit rent </li></ul><ul><li>Land assessment </li></ul><ul><li>Electricity </li></ul><ul><li>Water (including Indah Konsortium Water) </li></ul>Apportionment of Outgoings
  46. 58. Land Assessment (Cukai Pintu) DBKL
  47. 59. Land Assessment (Cukai Pintu)
  48. 60. <ul><li>Time of apportionment </li></ul><ul><li>At the date of delivery of vacant possession (keys) </li></ul>Apportionment of Outgoings
  49. 61. <ul><li>IF WITH LOAN </li></ul><ul><li>After the expiry of 14 days from the date of presentation </li></ul>When to release Balance Purchase Price?
  50. 62. <ul><li>IF WITHOUT LOAN </li></ul><ul><li>After the expiry of 14 days from the date of receipt by the Purchaser’s Solicitors of the Security Documents OR the expiry of 14 days from the date of presentation, whichever is earlier. </li></ul>When to release Balance Purchase Price?
  51. 63. <ul><li>THE DEFAULT </li></ul><ul><li>Failing to pay the Balance Purchase Price within the time stipulated </li></ul>Default by Purchaser
  52. 64. <ul><li>VENDOR’S REMEDY </li></ul><ul><li>Terminate agreement </li></ul><ul><li>Deposit paid forfeited </li></ul><ul><li>Free to sell </li></ul><ul><li>If caveat lodged Purchaser to withdraw caveat at own cost </li></ul><ul><li>If vacant possession has been delivered, Purchaser to re-deliver vacant possession </li></ul>Default by Purchaser
  53. 65. <ul><li>THE DEFAULT </li></ul><ul><li>Failing to transfer the Property to the Purchaser </li></ul>Default by Vendor
  54. 66. Default by Vendor Terminate Agreement Specific Performance OR
  55. 67. <ul><li>PURCHASER’S REMEDY </li></ul><ul><li>Terminate Agreement </li></ul><ul><li>Vendor to refund the Deposit paid </li></ul><ul><li>Vendor to further pay liquidated damage equivalent to Deposit </li></ul><ul><li>Purchaser to withdraw caveat (if lodged) </li></ul><ul><li>Purchaser to re-deliver vacant possession (if vacant possession delivered to Purchaser) </li></ul>Default by Vendor
  56. 68. <ul><li>PURCHASER’S REMEDY </li></ul><ul><li>Specific Performance </li></ul><ul><li>Vendor to specifically perform the contract ie. by transferring property to Purchaser </li></ul>Default by Vendor
  57. 69. <ul><li>Upon receipt by Vendor’s Solicitors the Balance Purchase Price and the late payment of interest (if any) and (apportionment of outgoings!!) </li></ul>Delivery of Vacant Possession
  58. 70. <ul><li>TIME OF ACQUISITION </li></ul><ul><li>After signing of agreement but before presentation of Memorandum of Transfer </li></ul><ul><li>After presentation of Memorandum of Transfer for registration </li></ul>Government Acquisition
  59. 71. <ul><li>TIME OF ACQUISITION </li></ul><ul><li>After signing of agreement but before presentation of Memorandum of Transfer </li></ul><ul><li>PURCHASER’S ENTITLEMENT </li></ul><ul><li>Terminate agreement OR </li></ul><ul><li>To continue with agreement </li></ul>Government Acquisition
  60. 72. <ul><li>PURCHASER’S ENTITLEMENT </li></ul><ul><li>Terminate agreement </li></ul><ul><li>Vendor to refund Deposit </li></ul><ul><li>Purchaser to return Security Documents to Vendor </li></ul><ul><li>Purchaser to withdrawal caveat (if lodged) </li></ul><ul><li>Purchaser to redeliver vacant possession (if vacant possession delivered to Purchaser) </li></ul>Government Acquisition
  61. 73. <ul><li>PURCHASER’S ENTITLEMENT </li></ul><ul><li>Continue with agreement </li></ul><ul><li>Vendor to notify government of Purchaser’s interest </li></ul><ul><li>All acquisition notices must be delivered to the Purchaser </li></ul><ul><li>Compensation belongs to Purchaser (provided Purchase Price paid to Vendor) </li></ul><ul><li>Vendor to obtain the best compensation award </li></ul>Government Acquisition
  62. 74. <ul><li>Is the registered owner of Property </li></ul><ul><li>Has good and clean title to pass </li></ul><ul><li>Has authority to execute and perform terms of agreement </li></ul><ul><li>Has not previously and/or will not hereafter sell, transfer, let, charge property </li></ul>Vendor’s Representations & Warranties
  63. 75. <ul><li>All extensions, renovations duly approved by the authorities </li></ul><ul><li>No notice of legal proceedings affecting property (auction) </li></ul><ul><li>Reliance by Purchaser of Vendor’s representations </li></ul><ul><li>Indemnify Purchaser </li></ul>Vendor’s Representations & Warranties
  64. 76. <ul><li>Substantially the same condition and state as at the date of viewing </li></ul><ul><li>Joint inspection </li></ul><ul><li>If any changes, Vendor to repair and restore </li></ul><ul><li>Inventory List (Fixtures & Fittings) </li></ul>Conditions of Property
  65. 77. Notices
  66. 78. Passing of Risk
  67. 79. Passing of Risk
  68. 80. Passing of Risk
  69. 81. When do you think RISK should pass?
  70. 82. <ul><li>At the time of delivery of vacant possession </li></ul>Passing of Risk
  71. 83. Time of Performance Shall be of the essence
  72. 84. <ul><li>Binding upon heir, personal representatives, executors, administrators, successors-in-title and assigns </li></ul>Binding Effect
  73. 85. <ul><li>Solicitors’ Fees (its own) </li></ul><ul><li>Stamp Duty (Purchaser) </li></ul><ul><li>Section 433B NLC (Purchaser) </li></ul><ul><li>Consent to Transfer (Vendor) </li></ul><ul><li>Discharge of Charge (Vendor) </li></ul>Costs
  74. 86. Schedule of Fees (Sale & Transfer) 0.5% For the next RM2,000,000-00 Negotiable on the excess (but shall not exceed 0.4% of such excess) Where the consideration or adjudicated value is in excess of RM7,500,000-00 0.4% For the next RM2,500,000-00 0.6% For the next RM2,000,000-00 0.7% For the next RM850,000-00 1.0% (subject to a minimum fee of RM300) For the first RM150,000-00 Scale of Fees Consideration or Adjudicated Value
  75. 87. <ul><li>Subject to existing tenancy </li></ul><ul><li>Novation of the tenancy agreement </li></ul><ul><li>To pro rate rental (date of payment of balance purchase price) </li></ul><ul><li>Refund Security deposit and utilities deposit </li></ul>Subject to Tenancy
  76. 88. <ul><li>Security & Utilities Deposit (if required) </li></ul><ul><li>Rental (if any) </li></ul><ul><li>If WITH rental apportionment of outgoings at the time of payment of Balance Purchase Price (Landlord and Tenant) </li></ul>Early Delivery of Vacant Possession
  77. 89. <ul><li>If WITHOUT rental apportionment of outgoings at the time of delivery of vacant possession </li></ul>Early Delivery of Vacant Possession
  78. 90. WITHOUT TITLE
  79. 91. <ul><li>Within 90 days from the date of the receipt by the Purchaser’s Solicitors of the letter of confirmation of compliance by Vendor of the Developer’s terms </li></ul>Payment of the Balance Purchase Price
  80. 92. <ul><li>The Principal Agreement </li></ul><ul><li>(Between the Developer/ Proprietor and the First Purchaser/Vendor) </li></ul><ul><li>The Deed of Mutual Covenants </li></ul><ul><li>(Between the Developer and the First Purchaser/Vendor) </li></ul>THE RECITALS (Without Title)
  81. 93. <ul><li>The Loan Documentation </li></ul><ul><li>(The First Purchaser’s/ Vendor’s loan) </li></ul><ul><li>The Facilities Agreement </li></ul><ul><li>The Deed of Assignment </li></ul><ul><li>The Power of Attorney </li></ul>THE RECITALS (Without Title)
  82. 94. <ul><li>The Sale and Purchase Agreement </li></ul><ul><li>The Deed of Assignment (by way of sale) (cf : Memorandum of Transfer) </li></ul>DOCUMENTATION (Without Title)
  83. 95. <ul><li>OR Within 90 days from the date of the receipt by the Purchaser’s Solicitors of the letter of confirmation from the Developer </li></ul>Payment of the Balance Purchase Price
  84. 96. <ul><li>Solicitors’ Fees (its own) </li></ul><ul><li>Stamp Duty (Purchaser) </li></ul><ul><li>Developer’s Confirmation (Purchaser) </li></ul><ul><li>Deed of Receipt and Reassignment (Vendor) </li></ul>Costs
  85. 97. Terminology Charge Assignment Discharge of Charge Receipt and Reassignment Memorandum of Transfer Deed of Assignment (by way of sale)
  86. 98. <ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Strata Title Registered in Vendor’s name </li></ul>Strata Title Issued
  87. 99. <ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Restriction-in-interest endorsed on Strata Title </li></ul><ul><li>(consent to transfer required) </li></ul><ul><li>If Developer does not agree to Direct Transfer </li></ul>Strata Title Issued
  88. 100. Developer First Purchaser (Vendor) Purchaser Strata Title Issued MOT-1 MOT-2 Direct Transfer NOT agreeable Consent to Transfer Consent to Transfer stamp duty stamp duty
  89. 101. <ul><li>Strata Title registered in Developer’s name </li></ul><ul><li>Consent to Transfer not required </li></ul><ul><li>If Developer agrees to a Direct Transfer </li></ul>Strata Title Issued
  90. 102. Developer First Purchaser (Vendor) Purchaser DIRECT TRANSFER Strata Title Issued MOT Stamp duty
  91. 103. THE END
  1. ¿Le ha llamado la atención una diapositiva en particular?

    Recortar diapositivas es una manera útil de recopilar información importante para consultarla más tarde.

×