[{"id":"37370771-38f5-48c7-a471-c43c01ace74c","order":10,"text":"PROPERTY CO-OWNERSHIP AGREEMENT","fontSize":"20","textAlign":"center","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"d5cb5af8-03b3-423e-a8fe-80ba3a9a8d3c","order":20,"text":"(Co-Ownership of Real Property in Singapore)","fontSize":"14","textAlign":"center","bold":false,"underline":false,"marginBottom":"24","cflou":false,"active":true},{"id":"e88b94f1-b5be-460a-8ae0-e8aa4bababac","order":30,"text":"THIS PROPERTY CO-OWNERSHIP AGREEMENT (this "Agreement") is made on [Date of this Agreement].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"f67edd6a-2032-4efe-adc2-ca9485475051","order":40,"text":"BETWEEN","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0de67471-8ad9-45fa-9065-e9e1b0661cbb","order":50,"text":"(1) [Full name of the First Co-Owner], holder of [Identification type] No. [Identification number], residing at [Residential address of the First Co-Owner] (the "First Co-Owner");","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"12","cflou":false,"active":true},{"id":"ad9f1ad8-45ce-413e-ae55-6aed565b8efc","order":60,"text":"AND","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"99aca39d-616b-4dd3-bfcf-a170d010c09e","order":70,"text":"(2) [Full name of the Second Co-Owner], holder of [Identification type] No. [Identification number], residing at [Residential address of the Second Co-Owner] (the "Second Co-Owner").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"4724161f-2a6f-4b6f-82c2-eb38c8f3e1ac","order":80,"text":"The First Co-Owner and the Second Co-Owner are hereinafter collectively referred to as the "Co-Owners" and each individually as a "Co-Owner".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"428e9e38-035e-4d52-a380-a9ffb4f0d7bd","order":90,"text":"RECITALS","fontSize":"14","textAlign":"left","bold":true,"underline":true,"marginBottom":"10","cflou":false,"active":true},{"id":"c92cc110-3b2f-4d39-955d-554da688bd2f","order":100,"text":"A. The Co-Owners have agreed to acquire and hold, or currently hold, as co-owners the property known as [Full address of the Property] (the "Property"), being [Type of property].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3cc36e2a-2394-46b9-8dc5-01c83ce14e57","order":110,"text":"B. The Property is being acquired at, or has an agreed value of, a purchase price of S$[Purchase price of the Property] (the "Purchase Price"), exclusive of stamp duty, legal fees and other acquisition costs.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"26c6aeba-0237-4ea5-9ba6-8717f8052a5a","order":120,"text":"C. The Co-Owners wish to record the terms upon which they hold the Property, contribute to its acquisition and ongoing costs, regulate their respective rights and obligations, and govern any future dealing with or disposal of their interests in the Property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"18ddb1aa-1eea-4bed-b4da-5731770fd4bd","order":130,"text":"D. This Agreement is intended to operate in addition to, and not in derogation of, the registered title to the Property and the provisions of the Land Titles Act 1993 of Singapore.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"508c32c2-b62a-497c-afcd-43fee9415df3","order":140,"text":"NOW IT IS HEREBY AGREED as follows:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"1e4e4d40-7e8e-4058-b631-242cef2d0e3c","order":150,"text":"1. INTERPRETATION","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S01"},{"id":"de17ce8c-02e2-4cb7-a204-5230c4f63600","order":160,"text":"In this Agreement, unless the context otherwise requires, "Manner of Holding" means the manner in which the Co-Owners hold the Property as recorded in the register of titles, being either as joint tenants or as tenants-in-common; "Share" means, in respect of a Co-Owner holding as tenant-in-common, the undivided share in the Property set out in the clause entitled "Shares and Financial Contributions"; "Encumbrance" means any mortgage, charge, lien, pledge or other security interest; and "Business Day" means a day (other than a Saturday, Sunday or gazetted public holiday) on which banks are open for general business in Singapore.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7f02f180-0890-43e0-9f73-09f066e195d7","order":170,"text":"References to a statute or statutory provision include that statute or provision as amended, re-enacted or replaced from time to time. Headings are for convenience only and do not affect interpretation. Words importing the singular include the plural and vice versa.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"3d1ee817-b79a-4a67-8c65-f905451a7f9e","order":180,"text":"2. MANNER OF HOLDING","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S02"},{"id":"6b69500c-5d1a-4cf2-ab43-6972593b5635","order":190,"text":"The Co-Owners hold the Property as JOINT TENANTS. Accordingly, the Co-Owners together own the whole of the Property, no Co-Owner holds a distinct or divisible share, and the right of survivorship (jus accrescendi) applies, so that upon the death of a Co-Owner the entire interest in the Property vests automatically in the surviving Co-Owner, subject to any subsisting Encumbrance.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"joint tenants","type":"add","operator":"="}]},{"id":"2289e482-2622-426a-b12e-1da95383346d","order":200,"text":"The Co-Owners acknowledge that a joint tenancy may be severed and converted into a tenancy-in-common in equal shares in accordance with section 53 of the Land Titles Act 1993, whether by mutual agreement, by a declaration registered against the title, or by the unilateral act of a Co-Owner as permitted by law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"joint tenants","type":"add","operator":"="}]},{"id":"731c429f-dce9-4013-be36-91e5d8dcc399","order":210,"text":"The Co-Owners hold the Property as TENANTS-IN-COMMON. Each Co-Owner holds a distinct and undivided Share in the Property in the proportions set out in the clause entitled "Shares and Financial Contributions". There is no right of survivorship: upon the death of a Co-Owner, that Co-Owner's Share devolves according to that Co-Owner's will or, in the absence of a will, according to the Intestate Succession Act 1967, subject to any subsisting Encumbrance.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"tenants-in-common","type":"add","operator":"="}]},{"id":"1e0128a6-185c-4284-8346-547d7ad773fd","order":220,"text":"Each Co-Owner is entitled to deal with, charge or dispose of that Co-Owner's Share subject to the restrictions in this Agreement, including the right of first refusal in the clause entitled "Transfer of a Share and Right of First Refusal".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"tenants-in-common","type":"add","operator":"="}]},{"id":"110c9cf3-a4ef-43ee-9daa-1511780751ea","order":230,"text":"3. SHARES AND FINANCIAL CONTRIBUTIONS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S03"},{"id":"7730d533-a072-464e-8a3c-ac0d9bfb389f","order":240,"text":"As tenants-in-common, the Co-Owners hold the following undivided Shares in the Property: the First Co-Owner holds [First Co-Owner's share (%)]% and the Second Co-Owner holds [Second Co-Owner's share (%)]%. The Co-Owners confirm that these Shares together constitute the whole of the beneficial interest in the Property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"tenants-in-common","type":"add","operator":"="}]},{"id":"5327d30c-31fe-4629-bed9-98a774585057","order":250,"text":"As joint tenants, the Co-Owners hold the whole of the Property together and, as between themselves, are treated as beneficially entitled in equal shares for the purposes of contribution and accounting under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"002f555d-0b2d-4dbf-9af1-a8d6ee185363","value":"joint tenants","type":"add","operator":"="}]},{"id":"b8d3d5d1-2674-4a23-b847-8c678cee0010","order":260,"text":"In this Agreement, the "Proportionate Interests" of the Co-Owners means, where the Co-Owners hold as tenants-in-common, their respective Shares set out above, and, where the Co-Owners hold as joint tenants, equal shares as between themselves. All contributions, outgoings, liabilities and net proceeds that fall to be borne or distributed by reference to the Proportionate Interests shall be borne or distributed accordingly, unless otherwise agreed in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"05a75fbf-7bd5-4394-a053-9fbcaf5a2e3b","order":270,"text":"The Co-Owners have contributed, or shall contribute, towards the Purchase Price and the acquisition costs as follows: the First Co-Owner contributes S$[First Co-Owner's contribution] and the Second Co-Owner contributes S$[Second Co-Owner's contribution]. The Co-Owners agree that these contributions reflect their respective financial interests and are relevant to any accounting on a disposal or termination of the co-ownership.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"701aa052-28c4-4d67-89c8-20735c0cafac","order":280,"text":"Where any part of a Co-Owner's contribution is or was funded from that Co-Owner's Central Provident Fund (CPF) moneys, the parties acknowledge that such moneys, together with accrued interest, must be refunded to that Co-Owner's CPF account upon a disposal of the Property in accordance with the Central Provident Fund Act 1953 and the rules of the CPF Board, and that such refund ranks ahead of any distribution of net proceeds between the Co-Owners.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"3bd90963-18c3-44f5-95b1-e8bebab0419b","order":290,"text":"4. MORTGAGE AND FINANCING","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8b22b588-9bf5-4bb3-81fe-cb27925345e1","value":"1","type":"add","operator":"="}],"sectionNum":"S04"},{"id":"3c8c5aa0-d5f8-434a-a95f-5915bfccb1f0","order":300,"text":"The acquisition of the Property is financed in part by a loan from [Name of the mortgagee / bank] (the "Mortgagee"), secured by a mortgage over the Property (the "Mortgage") in the principal sum of S$[Principal amount of the loan].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8b22b588-9bf5-4bb3-81fe-cb27925345e1","value":"1","type":"add","operator":"="}]},{"id":"b113edad-379a-4bb9-b12a-7facec7d6ca2","order":310,"text":"The Co-Owners are jointly and severally liable to the Mortgagee for the repayment of the loan. As between themselves, the Co-Owners shall bear the monthly instalments and all sums due under the Mortgage in accordance with their Proportionate Interests, unless otherwise agreed in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8b22b588-9bf5-4bb3-81fe-cb27925345e1","value":"1","type":"add","operator":"="}]},{"id":"98538c17-f250-40ff-91b0-6402814c1b65","order":320,"text":"If a Co-Owner fails to pay that Co-Owner's proportion of any instalment when due and the other Co-Owner pays the shortfall to protect the Property, the paying Co-Owner shall be entitled to recover the amount so paid, together with interest at the rate specified in the clause entitled "Default Interest", and to have that amount treated as an adjustment to the parties' respective interests on any accounting.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true,"displayConditions":[{"field":"8b22b588-9bf5-4bb3-81fe-cb27925345e1","value":"1","type":"add","operator":"="}]},{"id":"7dfa2975-b5ab-4baa-9263-4426a66ceb40","order":330,"text":"5. STAMP DUTY AND ACQUISITION COSTS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S05"},{"id":"b013f6ab-d76b-4935-94f7-0a09587f19e1","order":340,"text":"The Co-Owners acknowledge that the acquisition of the Property attracts Buyer's Stamp Duty (BSD) and may attract Additional Buyer's Stamp Duty (ABSD) under the Stamp Duties Act 1929, and that ABSD is assessed by reference to the individual profile of each Co-Owner, including citizenship or residency status and the number of residential properties owned by that Co-Owner.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a6d8f47f-c9e2-4a28-b1f0-a151f69e6ba3","order":350,"text":"Accordingly, each Co-Owner shall bear and pay that Co-Owner's own Additional Buyer's Stamp Duty (if any) attributable to that Co-Owner's acquisition of an interest in the Property. The Buyer's Stamp Duty and all other acquisition costs (including legal fees, disbursements, valuation fees and survey fees) shall be borne by the Co-Owners in accordance with their Proportionate Interests, unless otherwise agreed in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"9f0699b1-79d5-4efb-99c0-bc6ba828adcc","order":360,"text":"If a Co-Owner pays any stamp duty or acquisition cost that is properly the responsibility of the other Co-Owner under this clause, the paying Co-Owner shall be entitled to be reimbursed that amount on demand, together with interest at the rate specified in the clause entitled "Default Interest" from the date of demand until reimbursement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"791f0650-d0d0-4651-aa40-6dde7ea45dc5","order":370,"text":"6. OCCUPATION AND USE OF THE PROPERTY","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S06"},{"id":"a942a1eb-4434-4c7c-91d8-93044c47b9eb","order":380,"text":"Each Co-Owner is entitled to occupy and use the whole of the Property in common with the other Co-Owner, and no Co-Owner shall exclude the other from any part of the Property, save as the Co-Owners may agree in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"00cc51c0-f9b2-47c0-8800-f52ba1e649bb","order":390,"text":"No Co-Owner shall grant any tenancy, licence or right of occupation over the Property, or any part of it, to a third party without the prior written consent of the other Co-Owner, such consent not to be unreasonably withheld.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1982b50e-9b42-4f59-8cec-f95132b030c3","order":400,"text":"The Co-Owners shall keep the Property in good and tenantable repair and condition and shall comply with all applicable laws, regulations and by-laws affecting the Property, including where applicable the Building Maintenance and Strata Management Act 2004 and the by-laws of any relevant management corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"7fb11383-65cd-4bb0-94d4-2ff9486da0e6","order":410,"text":"If, by agreement or in fact, one Co-Owner has the exclusive occupation of the whole of the Property to the exclusion of the other, the occupying Co-Owner shall, if the other Co-Owner so requires in writing, pay to the other a fair occupation fee representing that other Co-Owner's share of the open-market rental value of the Property, to be set off against that other Co-Owner's share of the outgoings, such fee to be agreed or, failing agreement, determined in the same manner as a valuation under the clause entitled "Deadlock and Buy-Out".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"1d4c119b-a81d-4998-b518-87af81149b26","order":420,"text":"7. OUTGOINGS AND EXPENSES","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S07"},{"id":"b89f76d9-2369-4460-9118-0fa9720dacbb","order":430,"text":"The Co-Owners shall be responsible for property tax, conservancy and maintenance charges, sinking fund contributions, insurance premiums, utilities and all other outgoings in respect of the Property in accordance with their Proportionate Interests, unless otherwise agreed in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fd69a607-5c30-4414-a19d-ba2c66fefa8b","order":440,"text":"Capital expenditure and non-routine repairs exceeding S$[Threshold for major works (S$)] shall require the prior written agreement of both Co-Owners before being incurred, save for works reasonably necessary as an emergency to prevent damage to the Property or injury to persons.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"08ca8982-9d7a-48e5-8b35-b74f0507720e","order":450,"text":"The Co-Owners shall maintain adequate insurance over the Property against fire and such other risks as are customary, and shall ensure that each Co-Owner's interest is noted on the policy. Any insurance proceeds shall be applied first towards reinstatement of the Property or, if the Property is not reinstated, distributed between the Co-Owners in accordance with their Proportionate Interests.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"89184145-639a-41b1-a6b3-ed5ddb1fcd77","order":460,"text":"8. TRANSFER OF A SHARE AND RIGHT OF FIRST REFUSAL","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S08"},{"id":"57caaa36-7f97-4fa0-8b57-2abd02000e36","order":470,"text":"A Co-Owner (the "Selling Co-Owner") who wishes to sell, transfer or otherwise dispose of that Co-Owner's interest in the Property shall first offer it in writing to the other Co-Owner (the "Remaining Co-Owner") on the same terms and at the same price as the Selling Co-Owner is willing to accept from any bona fide third party (the "Offer Notice").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fd986b18-f11b-411a-b652-365a3a0a05f8","order":480,"text":"The Remaining Co-Owner shall have [Right of first refusal period (days)] days from receipt of the Offer Notice within which to accept the offer in writing. If the Remaining Co-Owner accepts, completion of the transfer shall take place within a reasonable period, not exceeding twelve (12) weeks, on the terms of the Offer Notice.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3ea0ec04-6876-4f0f-add3-001fe8bec7ad","order":490,"text":"If the Remaining Co-Owner does not accept the offer within the said period, the Selling Co-Owner may, within six (6) months thereafter, sell that interest to a third party at a price not lower, and on terms not more favourable to the buyer, than those set out in the Offer Notice, failing which the right of first refusal in this clause shall again apply.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ccd481d5-04fe-4294-a7e1-79c08ee93f67","order":500,"text":"Any transfer of an interest under this clause is subject to the consent of the Mortgagee (if any) and to compliance with all applicable eligibility conditions, restrictions and requirements, including those imposed by the Housing and Development Board, the Singapore Land Authority or any other competent authority in respect of the Property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"9a1800f0-0a9f-4c70-b448-60c95e949037","order":510,"text":"9. DEALINGS AND ENCUMBRANCES","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S09"},{"id":"93abb2f0-9ede-40cd-82a0-150eb140777f","order":520,"text":"No Co-Owner shall create any Encumbrance over the Property or over that Co-Owner's interest, otherwise than in favour of the Mortgagee under the Mortgage, without the prior written consent of the other Co-Owner.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e26343c9-384d-4816-a64b-7a2822269d6a","order":530,"text":"The Co-Owners agree that, for so long as this Agreement subsists, neither Co-Owner shall apply for an order for the sale or partition of the Property under section 18 of the Supreme Court of Judicature Act 1969 read with paragraph 2 of the First Schedule thereto, except in accordance with the exit and termination provisions of this Agreement or where the other Co-Owner is in material breach of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"2aa0792f-9b74-4e8a-9a20-6f1f26297ced","order":540,"text":"10. EXIT AND TERMINATION OF CO-OWNERSHIP","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S10"},{"id":"11cf7983-d10c-4f43-886a-d8be12820acc","order":550,"text":"The co-ownership may be brought to an end by: (a) the sale of the Property to a third party with the agreement of both Co-Owners; (b) the purchase by one Co-Owner of the other's interest under the clause entitled "Transfer of a Share and Right of First Refusal"; or (c) an order of court.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"64af6d65-3b4a-4ac3-a072-26618c007397","order":560,"text":"On a sale of the whole Property, the net proceeds of sale, after discharge of the Mortgage (if any), repayment of any CPF moneys required to be refunded, and payment of the costs of sale, shall be distributed between the Co-Owners in accordance with their Proportionate Interests, adjusted for any sums due between the Co-Owners under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"679532e0-d16e-4904-8cfc-1b45d5a0c824","order":570,"text":"If the Co-Owners are unable to agree on whether or how to dispose of the Property, either Co-Owner may, after following the dispute resolution procedure in the clause entitled "Dispute Resolution", require the Property to be sold on the open market and the net proceeds distributed in accordance with this clause.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"84d5af59-15c6-447a-bbb9-e0330fe2628b","order":580,"text":"11. DEATH OR INCAPACITY OF A CO-OWNER","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S11"},{"id":"b5b66dc2-9c83-400c-9382-b83e134108d5","order":590,"text":"Where the Co-Owners hold as joint tenants, on the death of a Co-Owner the entire interest in the Property vests in the surviving Co-Owner by survivorship, subject to any subsisting Encumbrance and to any CPF refund required by law, and the surviving Co-Owner shall be solely responsible for all obligations relating to the Property thereafter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e3c7907e-914a-4d19-b15a-0f298630e64b","order":600,"text":"Where the Co-Owners hold as tenants-in-common, on the death of a Co-Owner the surviving Co-Owner shall have the option, exercisable by written notice to the personal representatives of the deceased within six (6) months of the grant of probate or letters of administration, to purchase the deceased Co-Owner's Share at its fair value determined in accordance with the clause entitled "Deadlock and Buy-Out". If the option is not exercised, the Share devolves under the deceased's will or the Intestate Succession Act 1967, and the personal representatives shall be bound by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d3ad624e-5981-44c4-9263-abff3999b728","order":610,"text":"If a Co-Owner loses mental capacity within the meaning of the Mental Capacity Act 2008, the donee of a Lasting Power of Attorney granted by that Co-Owner or, in the absence of such an appointment, a deputy appointed by the court, shall exercise that Co-Owner's rights and perform that Co-Owner's obligations under this Agreement, and the other Co-Owner shall have the same option to purchase that Co-Owner's interest, at fair value, as applies on death.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"1a8138fe-9947-4622-96a6-43329440c99e","order":620,"text":"12. DEADLOCK AND BUY-OUT","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S12"},{"id":"d694a786-08f8-4087-9522-8f807e799eed","order":630,"text":"If the Co-Owners reach a deadlock, being a genuine and material disagreement that cannot be resolved through the dispute resolution procedure and that prevents the proper management or disposal of the Property, or where a buy-out is triggered under the clause entitled "Death or Incapacity of a Co-Owner", either Co-Owner may initiate the buy-out procedure in this clause by written notice to the other.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"23b174b9-47c2-42da-90e0-6dc30c34ab6d","order":640,"text":"The fair value of a Co-Owner's interest shall be the market value of the Property (as agreed or determined below) multiplied by that Co-Owner's Proportionate Interest, less that Co-Owner's share of any subsisting Encumbrance and of the notional costs of sale. The market value shall be agreed between the Co-Owners or, failing agreement within fourteen (14) days, determined by two independent valuers, each a licensed appraiser, one appointed by each Co-Owner at that Co-Owner's cost.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b479670b-8846-41b7-b4a5-b3a752ed8b71","order":650,"text":"If the two valuations differ by ten per cent (10%) or less of the higher valuation, the market value shall be the average of the two. If they differ by more than ten per cent (10%), the two valuers shall jointly appoint a third independent valuer, whose determination shall be final and binding, and whose costs shall be shared equally by the Co-Owners.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fd0f4b57-ac64-4a40-b409-82102905d432","order":660,"text":"The Co-Owner electing to purchase shall complete the purchase of the other's interest within twelve (12) weeks of the fair value being determined, subject to the consent of the Mortgagee (if any) and to all applicable eligibility conditions. If no Co-Owner elects, or is able, to purchase, the Property shall be sold on the open market and the net proceeds distributed in accordance with the clause entitled "Exit and Termination of Co-Ownership".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"20b1db86-8484-4c7a-9547-c58f022947dc","order":670,"text":"13. REPRESENTATIONS AND WARRANTIES","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S13"},{"id":"0ae5d330-6ee9-4492-9d5b-947e462456ce","order":680,"text":"Each Co-Owner represents and warrants to the other that that Co-Owner has full legal capacity to enter into and perform this Agreement, that this Agreement constitutes legal, valid and binding obligations enforceable against that Co-Owner, and that that Co-Owner is not relying on any statement or representation of the other save as set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0d1fe4cc-159b-45d3-9bcd-fbf94b4494ce","order":690,"text":"Each Co-Owner acknowledges that this Agreement has significant legal and financial consequences and that each has been advised to obtain, and has had the opportunity to obtain, independent legal advice before signing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"c8ea7c98-b27b-41bd-b7fa-98ab449f9b9e","order":700,"text":"14. DEFAULT INTEREST","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S14"},{"id":"92995cc5-946d-444b-803c-4b34f96cdbaa","order":710,"text":"Any sum payable by one Co-Owner to the other under this Agreement which is not paid when due shall bear interest, from the due date until payment in full, at the rate of [Default interest rate (% per annum)]% per annum, calculated on a daily basis. This provision is without prejudice to any other right or remedy of the Co-Owner to whom the sum is owed.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"a4de8415-8d05-49e9-87ad-c430983361a4","order":720,"text":"15. NOTICES","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S15"},{"id":"ab53f43d-2dfa-4a82-83c6-ba51c2f87a91","order":730,"text":"Any notice under this Agreement shall be in writing and shall be delivered by hand, sent by prepaid registered post, or sent by electronic mail, to the relevant Co-Owner at that Co-Owner's address stated in this Agreement or such other address as that Co-Owner may notify to the other in writing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"345a2f56-2df2-4042-a8bf-5931d9ea1898","order":740,"text":"A notice is deemed received: if delivered by hand, at the time of delivery; if sent by registered post, two (2) Business Days after posting; and if sent by electronic mail, at the time of transmission, provided no delivery-failure notification is received.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"3984ac8d-7629-420b-9f6a-79a8f6d76804","order":750,"text":"16. GENERAL PROVISIONS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S16"},{"id":"6b558494-5aa6-40b6-aa0a-05a610de2046","order":760,"text":"This Agreement constitutes the entire agreement between the Co-Owners in respect of its subject matter and supersedes all prior arrangements, whether oral or written.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4b9662b5-fde1-4cf2-8918-0a6ea0b6bce6","order":770,"text":"No variation of this Agreement is effective unless made in writing and signed by both Co-Owners. No failure or delay by a Co-Owner in exercising any right or remedy operates as a waiver of it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e958f7f8-81de-4ab6-a519-91ed711ede85","order":780,"text":"If any provision of this Agreement is or becomes illegal, invalid or unenforceable, that shall not affect the legality, validity or enforceability of the remaining provisions, which continue in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"49bd708c-54cb-473c-ac25-03583e9da78c","order":790,"text":"This Agreement binds and enures for the benefit of the Co-Owners and their respective personal representatives and permitted assigns.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4de239b8-aebc-4045-9dc0-367958b79ff1","order":800,"text":"Each Co-Owner shall, at the request and cost of the other, do and execute all such further acts, deeds, documents and things as may be reasonably necessary to give full effect to this Agreement, including any instrument required to record the Manner of Holding or any dealing permitted under this Agreement against the title to the Property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c9c3f44f-29c1-462a-ae08-176331d0c0c2","order":810,"text":"Except as otherwise provided in this Agreement, each Co-Owner shall bear that Co-Owner's own costs and expenses incurred in connection with the negotiation, preparation and execution of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"06195fc9-6ad5-402f-af17-9c7e9773cee0","order":820,"text":"This Agreement may be executed in any number of counterparts, each of which when executed and delivered constitutes an original, and all the counterparts together constitute one and the same instrument.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8e1dbca2-269f-42a5-bd19-d2a410e2c686","order":830,"text":"A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any term of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"4933904e-ea7a-4ab1-a6e6-a116c8b794a2","order":840,"text":"17. DISPUTE RESOLUTION","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S17"},{"id":"573fb899-e658-4554-be1a-fdf60fc3fdcd","order":850,"text":"The Co-Owners shall use their best endeavours to resolve any dispute arising out of or in connection with this Agreement amicably through good-faith negotiation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c434938d-e3de-4d55-ad3d-74a2bae4f1c9","order":860,"text":"If a dispute is not resolved within thirty (30) days of one Co-Owner notifying the other of it, the Co-Owners shall refer the dispute to mediation administered by the Singapore Mediation Centre in accordance with its Mediation Procedure for the time being in force.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0fd9b009-d28c-422d-89b0-6905309b3fd7","order":870,"text":"Any dispute not resolved by mediation shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (SIAC) in accordance with the Arbitration Rules of the SIAC for the time being in force, which rules are deemed incorporated by reference. The seat of arbitration shall be Singapore and the language of the arbitration shall be English.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"18","cflou":false,"active":true},{"id":"3d446e57-cdcd-4f8e-a6a1-3e774e8e4730","order":880,"text":"18. GOVERNING LAW AND JURISDICTION","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"sectionNum":"S18"},{"id":"121e1062-2c9b-41e0-8fff-0e0b420c53e5","order":890,"text":"This Agreement is governed by, and shall be construed in accordance with, the laws of the Republic of Singapore. Subject to the clause entitled "Dispute Resolution", the Co-Owners submit to the exclusive jurisdiction of the courts of Singapore.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"24","cflou":false,"active":true},{"id":"54e62f6f-a55c-4000-b0ad-e5f5984d9765","order":900,"text":"IN WITNESS WHEREOF the Co-Owners have entered into this Agreement on the date first written above.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"24","cflou":false,"active":true},{"id":"dc0d79db-ee4c-4609-a9f2-8ce4860654ee","order":910,"text":"SIGNED by the First Co-Owner","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"0e47e187-5b4c-4c45-95a7-153bab82da8d","order":920,"text":"[Full name of the First Co-Owner] .................................................","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"45a876f6-e07a-46a9-9de1-0b7d82451082","order":930,"text":"In the presence of:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"2861ac94-6e22-46e1-926c-6e4de21606ef","order":940,"text":"Witness name: [Name of the witness to the First Co-Owner] .................................................","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"24","cflou":false,"active":true},{"id":"d4ef2456-65a7-4fff-b55e-742a9ea1c6f9","order":950,"text":"SIGNED by the Second Co-Owner","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"dc16fdb0-c28d-4a10-b7b5-e55918612804","order":960,"text":"[Full name of the Second Co-Owner] .................................................","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"d1ce7fc5-59bd-468e-8376-818324597ab4","order":970,"text":"In the presence of:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"41fe9ff6-e4a6-4d0e-a64e-ac0430b19fd5","order":980,"text":"Witness name: [Name of the witness to the Second Co-Owner] .................................................","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true}]