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Simple Offer To Purchase Land Form Template for Malaysia

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Key Requirements PROMPT example:

Simple Offer To Purchase Land Form

"I need a Simple Offer To Purchase Land Form for acquiring a commercial property in Penang, Malaysia, with a proposed completion date of March 15, 2025, including specific conditions about existing tenant agreements and building inspection requirements."

Document background
The Simple Offer To Purchase Land Form is a crucial preliminary document in Malaysian property transactions, used when a potential buyer wishes to formally express their intent to purchase land or property. This document, while not as comprehensive as a full Sale and Purchase Agreement, serves as the initial binding offer and typically precedes the main transaction documents. It must comply with Malaysian property law, particularly the National Land Code 1965 and relevant state land rules. The form includes essential information such as the property details, purchase price, payment terms, and conditions of the offer, setting the foundation for subsequent negotiations and the final purchase agreement. It's particularly important in Malaysian property transactions as it helps establish clear intentions and basic terms before parties proceed with more detailed agreements and legal procedures.
Suggested Sections

1. Date and Reference: The current date and any reference number for the offer

2. Purchaser Details: Full name, NRIC/Company Registration number, and address of the party making the offer

3. Vendor Details: Full name, NRIC/Company Registration number, and address of the property owner

4. Property Description: Complete legal description of the land including title details, lot number, and address as per the land title

5. Purchase Price: The offered purchase price in both numbers and words

6. Payment Terms: Structure of payment including earnest deposit, balance deposit, and completion payment

7. Completion Period: Proposed timeframe for completing the purchase

8. Offer Validity Period: Duration for which the offer remains valid

9. Execution Block: Signature blocks for purchaser and witness

Optional Sections

1. Conditions Precedent: Any conditions that must be fulfilled before the sale can proceed, such as bank loan approval or land use restrictions

2. Special Conditions: Any specific requirements or conditions related to the property or transaction

3. Due Diligence Period: Proposed period for conducting property and title investigations

4. Property Vacant Possession: Terms regarding the handover of vacant possession, if applicable

5. Real Property Gains Tax: Provisions regarding the payment of RPGT, if applicable

Suggested Schedules

1. Property Details Schedule: Detailed description of the property including boundary marks, land area, and any encumbrances

2. Payment Schedule: Breakdown of payment terms and timeline

3. Title Particulars: Copy or extract of the land title details

4. Property Photos: Recent photographs of the property and its boundaries

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

Agriculture

Industrial

Commercial

Residential Property

Banking and Finance

Legal Services

Construction

Land Development

Relevant Teams

Legal

Real Estate

Property Management

Business Development

Investment

Corporate Affairs

Land Acquisition

Property Development

Compliance

Finance

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Corporate Lawyer

Property Developer

Land Acquisition Manager

Real Estate Director

Property Investment Manager

Conveyancing Lawyer

Business Development Manager

Property Investment Analyst

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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