WHAT IS A DEED OF MUTUAL COVENANT?
A Deed of Mutual Covenant (“DMC”) is a document containing terms that are binding on all flat owners of a multi-unit or multi-storey building. Once a DMC is signed by the owner of a flat and the developer, it binds all the subsequent owners.
10 COMMON THINGS YOU WILL FIND ON DEED OF MUTUAL COVENANTS
1. The said Parcel (aka. unit) shall be used only for residential purposes and neither for agricultural nor industrial purposes.
2. The purchasers shall be responsible for ensuring their Guests/Invitees’ behaviour is not offensive or a nuisance to the other purchasers. This includes conducting oneself in a manner which will not cause any annoyance or nuisance to others. i.e. playing radio, television, or other musical instruments at a volume that will not interfere with the peaceful enjoyment of the other purchasers.
3. All furniture and equipment placed in common areas (e.g: swimming pool, gym, clubhouse, etc) should not be damaged or removed or altered without the permission of the Management.
4. In terms of the car park, the purchaser may use their own allocated parking bays subject to all such rules and regulations as prescribed by the Vendor and the Management will not be responsible for any theft, loss or damage or other misdemeanor to the vehicles and/or their contents.
5. Proximity/access card, car/motorbike stickers, if any, shall be subjected to the rules and regulations by the Vendor or the Management and they reserves the right to cancel or forfeit any cards/stickers not used in accordance with the rules. Purchasers that do not comply with the rules shall be denied entry.
6. Renovation, delivery, and/or removal works are restricted to a certain time period i.e. weekdays 9am-5pm.
7. The Management reserves the right to subject all persons carrying out delivery removal, renovation works, visitors etc to a security check and the Management reserves the right to refuse entry to any person whose purpose for the entry cannot be verified.
8. The purchasers should pay monthly maintenance and service charges upon handing over of the Vacant Possession of the said Parcel. To ensure the prompt and adequate collection of Service Charges, the Management shall have the right to display the name(s) of the Purchasers who default in any or part of the payment of the same.
9. The purchasers shall also, upon the vacant possession date of the said Parcel, contribute to sinking fund of usually 10% of the Service Charges or any other amount determined by the law and the sinking fund paid shall not be refundable irrespective of any assignment or re-assignment of the said Parcel.
10. The purchasers shall keep the said Parcel including all fixtures and additions in good conditions and any defects caused shall be at the purchasers’ own cost and expenses.
