What is nomination?
As the property is expressed as sold to the Purchaser “and/or Nominee” (or words of like effect) then pursuant to the conditions of the contract the Purchaser nominates the Nominee as substitute purchaser to take a transfer or conveyance in lieu of the Purchaser.
Who is Purchaser?
“Purchaser” includes any person from time to time deriving an interest under a Contract of Sale.
Who is Nominee?
“Nominee” means the person to whom the Contract of Sale is nominated.
Is nomination legal?
Yes, nomination is legal. There will be certain limitations stated in Contract of Sale.
Is it legal to Purchase nomination with a higher price than Contract price?
Purchaser cannot make any profit from the nomination. However, he/she can claim recoveries for some reasonable costs (such as: traveling cost, legal fees).
To whom shall I send my documentations?
Smart Listing will assist you during the entire nomination process. For more detail information, please contact us 03 .