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Form For Real Estate Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

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."

Document background
The Form For Real Estate Purchase Agreement is a crucial legal document used in Malaysian property transactions to formalize the sale and purchase of real estate. This document is essential when any party wishes to buy or sell property in Malaysia, whether it's residential, commercial, or industrial real estate. It must comply with various Malaysian laws including the National Land Code 1965, Contracts Act 1950, and Stamp Act 1949. The agreement is designed to protect both parties' interests by clearly stating the terms of sale, property details, payment conditions, and completion requirements. It includes specific provisions required by Malaysian law such as land title details, registration requirements, and where necessary, foreign investment approvals. The Form For Real Estate Purchase Agreement can be used for various types of properties including landed properties, strata titles, and commercial real estate, with modifications as needed to accommodate specific circumstances.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



























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Relevant Industries

Real Estate

Property Development

Banking & Finance

Legal Services

Construction

Property Management

Investment

Hospitality

Retail

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Investment

Operations

Finance

Business Development

Risk Management

Customer Service

Documentation

Relevant Roles

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

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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