Investment S&P Agreement, who keep?
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 Feb 17 2015, 10:59 AM
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#1
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QUOTE(bob @ Feb 17 2015, 10:45 AM) normally have 4 set of original copy & each parties get one set of S&P. I believe its only 2 sets of Original - One for Seller (Developer) and One for Buyer  But if Buyer is taking a Loan, the Property will be charged and hence, the Bank will keep the SPA and Land Title until the Loan is fully discharged After the Loan is fully discharged the Original SPA and Title will be released to the Buyer / Borrower |
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Feb 17 2015, 11:19 AM
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#2
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QUOTE(bob @ Feb 17 2015, 11:13 AM) of cos u only got 1 as a buyer/owner .... the rest will go to other parties Yeah, I also signed 4-copiesbut last time when i bought a property .. I need to sign 4 copies of S&P. Then I got one 'original' & one 'duplicate' to keep with me. Was told that 2 tag as Original 2 Tag as Duplicate 1 - Original - Developer 1 - Original - Buyer - but kept by Bank during Financing 1 - Copy - Buyer 1 - Copy SPA Lawyer This post has been edited by cfa28: Feb 17 2015, 11:35 AM |
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Feb 17 2015, 01:55 PM
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#3
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QUOTE(cheryee @ Feb 17 2015, 12:51 PM) There'll never be 2 original copies of the SPA. Thought both Buyer and Seller should have their own Original Copy, esp for Court Action? |
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Feb 17 2015, 03:49 PM
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#4
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Okay, my wrong, only 1 original copy
Always thought to sue you need original copy of Agreement so both buyer and seller must have original to sue. |
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