When a buyer buys a commercial property through a share transfer of a company, the stamp duty currently due is 0.2% of the higher purchase price or net inventory value of the shares. However, if the company`s tangible assets are primarily residential real estate, these transfers may be in addition to the existing stamp duty of 0.2%. Exceptions may apply to transfers between related companies. When the property is sold as a transfer of assets as part of a lease agreement, a financing contract should be entered into (where possible) to replace the seller with the buyer as a new lessor and to cover all rights, obligations and obligations under the existing lease. With respect to a standard share purchase contract, many of the above provisions (. B, for example, the terms (g), j) and k) do not apply, since the transaction involves a transfer of ownership over the shares and there is no separate transfer of ownership (which the company already owns). Instead, additional clauses regarding aspects of the transaction are required. You still have three weeks after the delivery time to pay the 25% down payment for the accommodation. Please note that your developer has the right to perform your S-PA in case you delay your payment by more than 14 days.
Once your developer does, he will be able to exhale 25% of the purchase price, recover all interest accrued by you and unpaid, and resell the device to anyone else. Under the Stamp Duties Act (Cap. 312), the buyer may be liable for the payment of ABSD in addition to the buyer`s stamp duty (BSD) for the acquisition of the property, while the seller may be held liable for the seller`s duty of ownership for stamp duty (SSD). However, commercial real estate is currently exempt from the ABSD and SSD plans. The buyer`s lawyers generally ensure the stamp and registration of the corresponding instruments. The buyer`s lawyer will review the property and review the property, and the seller`s lawyer will respond to the ownership requirements (if any) raised by the buyer`s lawyer and ensure that any defects of law are remedied. The real estate agent organizes the list and visit of the property. It can help the seller and buyer negotiate important commercial terms for sale and purchase. The real estate agent may also offer a standard form sales contract temporarily (which can be verified and commented on by lawyers).