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Deed Of Assignment Mortgage Template for Singapore

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Deed Of Assignment Mortgage

"Need a Deed of Assignment Mortgage to transfer a portfolio of 50 residential mortgages from ABC Bank to XYZ Financial, with completion scheduled for March 15, 2025, compliant with Singapore banking regulations."

What is a Deed Of Assignment Mortgage?

A Deed of Assignment Mortgage is commonly used in Singapore when mortgage rights need to be transferred between parties, often in cases of bank portfolio sales, corporate restructuring, or refinancing arrangements. The document must strictly comply with Singapore's legal framework, particularly the Conveyancing and Law of Property Act and Land Titles Act. It contains essential details about the original mortgage, property description, outstanding amounts, and terms of assignment. The deed requires proper execution before witnesses and registration with relevant authorities to be legally effective.

What sections should be included in a Deed Of Assignment Mortgage?

1. Parties: Details of the assignor (current mortgagee) and assignee (new mortgagee)

2. Background: History of the mortgage and reason for assignment

3. Definitions: Key terms used in the deed

4. Assignment Clause: Core clause transferring rights and interests in the mortgage

5. Consideration: Details of payment or other consideration for the assignment

6. Representations and Warranties: Statements about the validity of the mortgage and authority to assign

7. Execution Block: Formal execution requirements for a deed

What sections are optional to include in a Deed Of Assignment Mortgage?

1. Consent of Mortgagor: Required if original mortgage requires mortgagor's consent for assignment

2. Further Assurance: Commitment to execute additional documents if needed

3. Notice Requirements: Specific requirements for notifying relevant parties

4. HDB Compliance: Include if property is HDB-regulated

What schedules should be included in a Deed Of Assignment Mortgage?

1. Schedule 1 - Property Details: Details of the mortgaged property

2. Schedule 2 - Original Mortgage: Details of the mortgage being assigned

3. Schedule 3 - Outstanding Amount: Current balance and payment details of the mortgage

4. Appendix A - Required Notices: Forms of notices to be given to relevant parties

5. Appendix B - Consent Forms: Required consent forms from relevant parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























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Industries

Conveyancing and Law of Property Act (Cap. 61): Primary legislation governing property transactions and conveyancing matters in Singapore, including requirements for deed execution and property rights transfer

Land Titles Act (Cap. 157): Legislation governing the registration and transfer of land titles in Singapore, crucial for mortgage assignments and property transactions

Housing and Development Act (Cap. 129): Regulations specific to HDB properties, must be considered if the mortgaged property is public housing

Residential Property Act (Cap. 274): Controls and regulates the purchase and transfer of residential properties in Singapore

Moneylenders Act (Cap. 188): Regulates moneylending activities and related security interests, including mortgages

MAS Guidelines: Regulatory guidelines from Monetary Authority of Singapore affecting mortgage financing and banking institutions

SLA Requirements: Singapore Land Authority requirements for property transactions and registration

Banking Act (Cap. 19): Regulations governing banking institutions involved in mortgage transactions

Stamp Duties Act (Cap. 312): Governs stamp duty obligations for property transactions and mortgage assignments

Legal Profession Act (Cap. 161): Requirements for proper execution and witnessing of legal documents including deeds

Land Titles Registry Requirements: Specific registration procedures and requirements for recording mortgage assignments in the land registry

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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