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Purchase and Sale Contract for Real Estate in Shanghai Municipality
Special Announcement
1. This
(4) Property Quality
Clause of Property is mandatory in this Contract, and the property shall be kept in normal function. If the property is to be used after reasonable term of use, the owner shall entrust relevant qualified reconnaissance unit and devising unit for appraisal.
(5) Prior to execution of this Contract, the Buyer shall go to the Land and Housing Exchange Center to look up relevant record of registration (file) and make confirmation on possibility of title dispute and encumbrances so that to protect self interest.
(6) If the Property is let, the Seller shall notify relevant tenant three months prior to sell, and such tenant has a priority right to purchase the Property under equivalent condition. If such tenant abandons the priority right, the Buyer shall continue to perform lease contract and execute a contract with such tenant respecting change in interested party.
(7) If the Property is mortgaged, the Seller shall give a prior written notice to the mortgagee with consensus on such issue, in meantime, shall also disclose such issue to the Buyer.
(8) Land Use Right after Property Transaction
The use right of state-owned land where a living house is covered transfers with sell of the living house, and Article 3 (1) shall be applied in the event that the term of land use right is remarked on the Property Title Certificate.
(9) Transfer of Hukou Related to the Property
Performance of this Contract would also be affected on the condition that the old Hukou related to the Property could be moved out in a timely manner or not. The parties may insert provisions as such into Supplementary Clauses.
(10) Maintenance and Repair Fund
Pursuant to “Rules on Living House Management in Shanghai Municipality”, the parties shall give a written notice respecting the property transfer to the landlord management committee
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