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Form For Real Estate Purchase Agreement
"I need a Form For Real Estate Purchase Agreement for a Malaysian residential property purchase between a foreign individual buyer and a local developer, with completion scheduled for March 2025, including specific provisions for foreign ownership approval and staged payments."
1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses as required under Malaysian law
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement, including Malaysian legal terminology
4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price and payment terms
5. Property Details: Detailed description of the property including lot number, title details, and land office registration information as per National Land Code requirements
6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, deposit requirements, and payment schedule
7. Conditions Precedent: Conditions that must be fulfilled before completion, including government approvals if required
8. Vendor's Obligations: Vendor's warranties and obligations including ensuring clean title and vacant possession
9. Purchaser's Obligations: Purchaser's warranties and obligations including payment and compliance with relevant laws
10. Completion: Requirements and procedure for completion of the sale, including documentation and registration requirements
11. Default and Termination: Consequences of default by either party and termination provisions
12. Notices: Requirements for giving notices under the agreement
13. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
14. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability
1. Foreign Investment Approval: Required when purchaser is a foreign national or company, detailing compliance with Guidelines on Foreign Investment in Real Property
2. Strata Title Provisions: Required for apartments or condominiums, including provisions relating to management corporation and service charges
3. Bank Financing: Additional provisions when purchaser requires bank financing, including conditions and timeframes
4. Property Condition: Detailed provisions about the condition of the property, particularly relevant for existing properties
5. Tenancy: Required when property is subject to existing tenancy, including handling of tenant deposits and notices
6. GST/Tax Provisions: Detailed tax provisions when applicable, including GST and Real Property Gains Tax considerations
7. Developer's Consent: Required for sub-sale of property still under developer's control
8. Spouse Consent: Required when the property is matrimonial property under the Law Reform (Marriage and Divorce) Act
1. Property Schedule: Detailed property information including exact measurements, boundaries, and title particulars
2. Payment Schedule: Detailed breakdown of payment installments and timing
3. Inventory List: List of fixtures, fittings, and furniture included in the sale (if applicable)
4. Form 14A: Statutory transfer form under National Land Code
5. Title Search: Recent land title search results
6. Property Documents: Copies of relevant property documents including prior sale agreements, strata title (if applicable)
7. Condition Report: Report on property condition with photographs (if applicable)
8. Regulatory Approvals: Copies of relevant regulatory approvals including foreign investment approval if applicable
Authors
Real Estate
Property Development
Banking & Finance
Legal Services
Construction
Property Management
Investment
Hospitality
Retail
Commercial Property
Residential Property
Legal
Real Estate
Property Management
Sales
Compliance
Investment
Operations
Finance
Business Development
Risk Management
Customer Service
Documentation
Real Estate Agent
Property Lawyer
Legal Counsel
Property Developer
Investment Manager
Real Estate Manager
Property Valuer
Conveyancing Executive
Legal Executive
Compliance Officer
Property Portfolio Manager
Real Estate Investment Analyst
Bank Manager
Property Sales Manager
Asset Manager
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