The seller is liable to the buyer if he makes a false allegation of fact, and the buyer relies on the false statement and enters into the sale and purchase and suffers a loss due to that trust. To the extent that the property is not sold under an existing lease agreement, the seller must transfer the freedom of ownership of the property to the buyer once completed. The seller declares that the seller`s lawyers are the seller`s representative to receive the entire money to be paid to the seller, and that the payment of money to the agent is a sufficient fulfillment of the buyer`s payment obligations in accordance with the formal agreement. The seller and the buyer agree to conclude the sale and purchase of the property on December 15, 2001. The seller paid a measurement of USD 1,800.00 for the months of October to December 2001, but did not pay the administrative fee of USD 800 for the month of December 2001. The deposit for administrative fees is 1,800.00 USD. On the basis of the payment made by the seller up to the date of completion, the direct debit account will be as follows: the seller undertakes to prove and lend the property at his own expense and to make certified or certified copies of the documents to be provided under Article 13 of the Regulation on Transmission and Ownership. In short, the seller must prove a good property by providing the buyer with real estate that dates back at least 15 years after this transaction. For the buyer, it is essential that the ownership of the property is not affected by major defects affecting the circulation capacity. General Elements of a Contract of Sale (PPS) There are no specific requirements or restrictions for non-resident businesses and individuals to own or lease real estate (including shares in companies holding real estate) in Hong Kong. Foreigners can directly acquire real estate. Non-Hong Kongers are subject to payment of Ad Valorem Stamp Duty (AVD) and Buyer Stamp Duty (BSD). Under the Basic Law, no exchange control policy can be applied in Hong Kong.
Time is essential for the formal agreement (i.e. t.b both parties must strictly adhere to the deadlines set out in the agreement). With respect to the completion period, the court held in a number of cases that even if the buyer was only a few minutes late in submitting the purchase price on the day of completion, the buyer breached the agreement because time was of the essence. For example, if the time of completion is indicated on 31 December 2001 at 5 p.m. or before 5 p.m., the buyer must offer the seller the balance of the purchase price at or before 5 p.m. on 31 December 2001, and any delay beyond 5 p.m. leads the buyer to breach the agreement and give the seller the right to lose the deposits and cancel the sale. If you have signed the deed of purchase, you must ask the notary for a certificate of purchase (certificate) that will allow you to access public services for the property and open a bank account, etc., if you have not already done so. There is no form of mandatory wire transfer in Hong Kong. The standard legal document includes a provisional contract of sale, a formal contract of sale and a deed of assignment, all of which must be in writing, duly signed and certified, stamped and registered with the land registry. If the buyer insists on a request that the seller cannot resolve, the seller is free to cancel the sale by a certain period of time to the buyer, for example. B at least seven days in writing.
If this requirement has not been withdrawn in the meantime, the formal agreement is cancelled upon expiry of the said notification and the buyer is entitled to the return of all deposits paid without compensation, while all deeds of ownership are returned to the seller. . . .