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Area Purchase Contract
"I need an Area Purchase Contract for the acquisition of a 50-acre industrial plot in Selangor, Malaysia, with completion scheduled for March 2025; the agreement should include specific provisions for future factory development and environmental compliance requirements."
1. Parties: Identification of the vendor and purchaser with full legal names and registration/identification details
2. Background: Context of the transaction and brief description of the land area being purchased
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement for the sale and purchase of the area, including the purchase price
5. Property Description: Detailed description of the land area including boundaries, size, and title details
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, payment schedule, and payment mechanisms
7. Conditions Precedent: Conditions that must be fulfilled before the agreement becomes fully effective
8. Completion: Requirements and procedures for completion of the sale
9. Vendor's Warranties and Representations: Warranties regarding title, encumbrances, and property condition
10. Purchaser's Warranties and Representations: Warranties regarding financial capacity and compliance with relevant laws
11. Title and Registration: Provisions regarding transfer of title and registration requirements
12. Default and Termination: Consequences of default and termination rights
13. Notices: Process for giving notices under the agreement
14. Governing Law and Jurisdiction: Confirmation of Malaysian law as governing law and jurisdiction
15. Execution: Signature blocks and execution formalities
1. Development Obligations: Include when the purchase is for development purposes, specifying development commitments and timelines
2. Environmental Obligations: Include when there are specific environmental considerations or requirements
3. Native Title and Aboriginal Rights: Include when the land may be subject to native title or indigenous rights claims
4. Planning Permissions: Include when the purchase is conditional on obtaining specific planning or zoning approvals
5. Subdivision Rights: Include when the purchaser intends to subdivide the land
6. Access Rights: Include when specific access arrangements need to be established
7. Service Infrastructure: Include when dealing with utilities and infrastructure requirements
8. Third Party Rights: Include when there are existing tenancies or other third party interests to address
9. GST/Tax Provisions: Include detailed tax provisions when complex tax arrangements apply
1. Schedule 1 - Property Details: Detailed property information including lot numbers, title references, and area measurements
2. Schedule 2 - Purchase Price Breakdown: Detailed breakdown of the purchase price and payment milestones
3. Schedule 3 - Title Particulars: Copy of title documents and encumbrances
4. Schedule 4 - Site Plan: Plans showing the area being purchased with boundaries marked
5. Schedule 5 - Conditions Precedent: Detailed list of conditions precedent and required documents
6. Appendix A - Form 14A: Statutory transfer form required under the National Land Code
7. Appendix B - Vendor's Documents: Copies of required vendor documents (board resolutions, power of attorney etc.)
8. Appendix C - Property Certificates: Relevant certificates including land use, quit rent receipts, and assessment receipts
9. Appendix D - Survey Report: Licensed surveyor's report and plans
Authors
Real Estate
Property Development
Construction
Agriculture
Industrial Development
Commercial Development
Residential Development
Infrastructure
Mining
Renewable Energy
Hospitality
Legal
Real Estate
Finance
Property Development
Project Management
Investment
Compliance
Operations
Planning
Construction
Corporate Affairs
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Development Manager
Legal Counsel
Land Acquisition Manager
Project Manager
Investment Manager
Development Director
Finance Manager
Compliance Officer
Real Estate Analyst
Property Lawyer
Construction Manager
Planning Officer
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